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<SEC-DOCUMENT>0000930413-08-002107.txt : 20080331
<SEC-HEADER>0000930413-08-002107.hdr.sgml : 20080331
<ACCEPTANCE-DATETIME>20080331121550
ACCESSION NUMBER:		0000930413-08-002107
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080131
FILED AS OF DATE:		20080331
DATE AS OF CHANGE:		20080331
EFFECTIVENESS DATE:		20080331

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKROCK LTD DURATION INCOME TRUST
		CENTRAL INDEX KEY:			0001233681
		IRS NUMBER:				200096695
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21349
		FILM NUMBER:		08722626

	BUSINESS ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		STREET 2:		MUTUAL FUND DEPARTMENT
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809
		BUSINESS PHONE:		888-825-227

	MAIL ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		STREET 2:		MUTUAL FUND DEPARTMENT
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK LIMITED DURATION INCOME TRUST
		DATE OF NAME CHANGE:	20030611

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK MANAGED DURATION INCOME TRUST
		DATE OF NAME CHANGE:	20030529

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK MANAGED DURATION TRUST
		DATE OF NAME CHANGE:	20030516
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>c52581_nq.htm
<TEXT>

<HTML>
<HEAD>
   <TITLE></TITLE>
</HEAD>

<BODY bgcolor="#ffffff">

<br>


<P align="center">
<FONT face="serif">UNITED STATES </FONT><BR>
<FONT face="serif">SECURITIES AND EXCHANGE COMMISSION</FONT><BR>
<FONT face="serif">Washington, D.C. 20549 </FONT></P>
<P align="center">
<B><FONT face="serif">FORM N-Q</FONT></B></P>
<P align="center">
<B><FONT face="serif">QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED<br>
MANAGEMENT INVESTMENT COMPANY </FONT></B></P>
<P align="left">
<FONT size=2 face="serif">Investment Company Act file number 811-21349 </FONT></P>
<P align="left">
<FONT size=2 face="serif">Name of Fund:&nbsp;&nbsp;&nbsp; BlackRock Limited Duration Income Trust (BLW)</FONT></P>
<P align="left">
<FONT size=2 face="serif">Fund Address:&nbsp;&nbsp;&nbsp; 100 Bellevue Parkway, Wilmington, DE 19809 </FONT></P>
<div style="margin-left:40px;text-indent:-40px">
<P align="left">
<FONT size=2 face="serif">Name and address of agent for service:&nbsp;&nbsp;&nbsp; Donald C. Burke, Chief Executive Officer, BlackRock Limited Duration Income Trust, 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ,
08543-9011 </FONT></P></div>
<P align="left">
<FONT size=2 face="serif">Registrant&#146;s telephone number, including area code: (800) 882-0052, Option 4 </FONT></P>
<P align="left">
<FONT size=2 face="serif">Date of fiscal year end: 10/31/2008 </FONT><BR>
<BR>
<FONT size=2 face="serif">Date of reporting period: 11/01/2007 &#150; 01/31/2008</FONT><BR>
<p>
<HR noshade align="center" width="100%" size=4>
<P align="left" style="page-break-before:always"></P><PAGE><BR>

<P><FONT size=2 face="serif">Item 1 &#150; Schedule of Investments </FONT></P>
<BR><BR>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of January 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(in U.S. dollars)</FONT></B> </div></TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<B><FONT size=2 face="serif">Face</FONT></B>  </TD>
  <TD width=5%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
  <TD width=45% align=left nowrap>&nbsp;  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Asset-Backed Securities+</FONT></B>  </TD>
  <TD width=1% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=left nowrap style="border-bottom:1px solid #000000;"> <div align="center"><B><FONT size=2 face="serif">Value</FONT></B> </div></TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">USD</FONT>  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">26,968,718</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Sterling Bank Trust Series 2004-2 Class NOTE,</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">2.081% due 3/30/2030 (i)</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6"><div align="left"><FONT size=2 face="serif">&#36;</FONT></div></TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif"> 674,218</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">21,937,457</FONT>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Sterling Coofs Trust Series 1, 2.362% due 4/15/2029 (i)</FONT>  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">946,053</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="serif">Total Asset-Backed Securities</FONT></B>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">(Cost - &#36;7,085,927) - 0.3%</FONT></B>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,620,271</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">U.S. Government &amp; Agency Obligations</FONT></B>  </TD>
  <TD width=1% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">17,000,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Fannie Mae, 7.25% due 1/15/2010 (m)</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">18,457,529</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">U.S. Treasury Notes:</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">17,000,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">3.375% due 12/15/2008 (m)</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">17,179,299</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">6,000,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">3.875% due 5/15/2009 (l)(m)</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">6,128,904</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">3,425,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">3.375% due 9/15/2009 (m)</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">3,490,825</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,815,000</FONT>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">
 &nbsp; &nbsp;<FONT size=2 face="serif">4.25% due 8/15/2015 (m)</FONT>  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,919,787</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<B><FONT size=2 face="serif">Total U.S. Government &amp; Agency Obligations</FONT></B>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">(Cost - &#36;46,283,579) - 7.3%</FONT></B>  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">47,176,344</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">U.S. Government Agency Mortgage-Backed Securities+</FONT></B>  </TD>
  <TD width=1% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Fannie Mae Guaranteed Pass-Through Certificates:</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">121,000,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">5.00% due 2/15/2023 (h)</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">122,625,998</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">8,395,092</FONT>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">
 &nbsp; &nbsp;<FONT size=2 face="serif">5.50% due 12/01/2028 - 11/01/2033 (l)(m)</FONT>  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">8,523,985</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<B><FONT size=2 face="serif">Total U.S. Government Agency Mortgage-Backed</FONT></B>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Securities (Cost - &#36;130,441,458) - 20.4%</FONT></B>  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">131,149,983</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Industry</FONT></B>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Floating Rate Loan Interests++</FONT></B>  </TD>
  <TD width=1% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>
<B><FONT size=2 face="serif">Aerospace &amp; Defense - 1.1%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">1,745,684</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">DynCorp Term Loan C, 6.875% due 6/28/2012</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">1,626,396</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">391,516</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Hawker Beechcraft Acquisition Co. LLC Letter of</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Credit, 6.93% due 3/31/2014</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">357,748</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">4,592,306</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Hawker Beechcraft Acquisition Co. LLC Term Loan</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">B, 6.83% due 3/31/2014</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">4,196,220</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">635,759</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">IAP Worldwide Services Inc. Term Loan, 11.125%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 12/31/2012</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">553,111</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">486,250</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Wesco Aircraft Hardware Corp. First Lien Term</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Loan, 7.08% due 9/25/2013</FONT>  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">465,584</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">7,199,059</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>
<B><FONT size=2 face="serif">Airlines - 0.6%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">3,000,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">US Airways Group, Inc. Term Loan B, 5.785%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 3/22/2014</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">2,615,625</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,613,750</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">United Air Lines, Inc. Term Loan B, 6.00% - 7.13%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 1/30/2014</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,445,820</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,061,445</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="serif">Auto Components - 0.7%</FONT></B>  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">2,750,000</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Allison Transmission Term Loan B, 5.92%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 8/07/2014</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">2,398,883</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">863,110</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Mark IV Industries First Lien Term Loan,</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">7.41% - 9.66% due 6/01/2011</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">704,514</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">98,077</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Metaldyne Corp. Letter of Credit, 3.90% - 8.25%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 1/15/2012</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">83,856</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">666,923</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Metaldyne Term Loan B, 8.25% due 1/11/2014</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">570,219</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">495,000</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Motorsport Aftermarket Group Term Loan B, 7.33%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 11/03/2013</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">455,400</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,212,872</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="serif">Beverages - 0.3%</FONT></B>  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">EUR</FONT>  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,500,000</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Culligan International Second Lien Term Loan,</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">8.989% - 9.56% due 5/25/2013</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,271,130</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">USD</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">1,000,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Le-Nature's, Inc. Term Loan B, 10.25%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 12/28/2012 (e)</FONT>  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">511,250</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,782,380</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>
<B><FONT size=2 face="serif">Building Products - 1.2%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">195,510</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Armstrong World Term Loan B, 5.739%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 10/02/2013</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">189,156</FONT>  </TD>
</TR>
</TABLE>
<P align="center">
<FONT size=2 face="sans-serif">1</FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE><BR>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of January 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(in U.S. dollars)</FONT></B> </div></TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<B><FONT size=2 face="serif">Face</FONT></B>  </TD>
  <TD width=5%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
  <TD width=45% align=left nowrap>&nbsp;  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Industry</FONT></B>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Floating Rate Loan Interests++</FONT></B>  </TD>
  <TD width=1% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=left nowrap style="border-bottom:1px solid #000000;"> <div align="center"><B><FONT size=2 face="serif">Value</FONT></B> </div></TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=center nowrap bgcolor="#E6E6E6">
    <div align="left"><FONT size=2 face="serif">USD</FONT> </div></TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">2,475,094</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Building Material Corp. of America First Lien Term</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">  <div align="left"></div></TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Loan, 6.688% due 2/22/2014</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6"><div align="left"><FONT size=2 face="serif">&#36;</FONT></div></TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif"> 1,976,538</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>  <div align="left"></div></TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">1,490,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Custom Building Products Second Lien Term Loan,</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>  <div align="left"></div></TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">9.718% due 4/29/2012</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">1,326,100</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=center nowrap bgcolor="#E6E6E6">
    <div align="left"><FONT size=2 face="serif">EUR</FONT> </div></TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,020,730</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Lafarge Roofing SA Term Loan B, 6.89%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">  <div align="left"></div></TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 5/01/2015</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,069,379</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=center nowrap>
    <div align="left"><FONT size=2 face="serif">USD</FONT> </div></TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">278,063</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Lafarge Roofing SA Term Loan B, 6.955%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>  <div align="left"></div></TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 5/01/2015</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">201,596</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=center nowrap bgcolor="#E6E6E6">
    <div align="left"><FONT size=2 face="serif">EUR</FONT> </div></TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,018,674</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Lafarge Roofing SA Term Loan C, 7.14%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">  <div align="left"></div></TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 5/01/2016</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,073,889</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=center nowrap>
    <div align="left"><FONT size=2 face="serif">USD</FONT> </div></TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">284,751</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Lafarge Roofing SA Term Loan C, 7.205%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>  <div align="left"></div></TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 5/01/2016</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">207,868</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">242,918</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Masonite International Term Loan, 5.331% - 6.83%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 4/06/2013</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">207,916</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">243,332</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Masonite International Term Loan B, 5.331% - 6.83%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 4/06/2013</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">208,270</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,817,627</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">United Subcontractors Inc. First Lien Term Loan, 7.566%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 12/27/2012</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,490,454</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">7,951,166</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="serif">Capital Markets - 0.1%</FONT></B>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">500,000</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Marsico Parent Company, LLC Term Loan B, 8.125%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">due 11/14/2014</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">480,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>
<B><FONT size=2 face="serif">Chemicals - 3.5%</FONT></B>  </TD>
  <TD width=5% align=right nowrap>
    <div align="left"><FONT size=2 face="serif">EUR</FONT> </div></TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">500,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Brenntag AG Term Loan B, 6.655% due 11/24/2037</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">686,803</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">  <div align="left"></div></TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,000,000</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Cognis Deutschland Term Loan B, 6.948%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">  <div align="left"></div></TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 11/16/2013</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,309,536</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=right nowrap>
    <div align="left"><FONT size=2 face="serif">USD</FONT> </div></TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">2,000,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Flint Group Term Loan B, 7.39% due 5/30/2015</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">1,853,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">4,516,463</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Huntsman ICI Holdings Term Loan B, 5.035%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 8/16/2012</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">4,269,314</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">1,492,500</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">ISP Chemco Term Loan B, 6.438% - 6.938%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 5/25/2014</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">1,385,227</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,152,115</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Ineos Group Plc Term Loan A, 7.36% due 2/20/2013</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,026,823</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">1,665,110</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Ineos Group Plc Term Loan B, 7.451% due 2/20/2015</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">1,533,982</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,732,500</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Ineos Group Plc Term Loan C, 7.86% - 7.951%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 2/20/2014</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,596,066</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">1,280,142</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Invista Term Loan B-1, 6.33% due 4/29/2011</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">1,217,201</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">678,570</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Invista Term Loan B-2, 6.33% due 4/29/2011</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">645,207</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=center nowrap>
    <div align="left"><FONT size=2 face="serif">EUR</FONT> </div></TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">1,032,477</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Lucite International Finance Plc Payment In</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>  <div align="left"></div></TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Kind, 13.411% due 7/03/2014</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">1,419,861</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=center nowrap bgcolor="#E6E6E6">
    <div align="left"><FONT size=2 face="serif">USD</FONT> </div></TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,562,087</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Nalco Co. Tranche B Term Loan, 5.08% - 6.48%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">  <div align="left"></div></TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 11/04/2010</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,519,130</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>  <div align="left"></div></TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">975,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Rockwood Specialties Group, Inc. Tranche D Term</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>  <div align="left"></div></TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Loan, 6.46% due 12/10/2012</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">923,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=center nowrap bgcolor="#E6E6E6">
    <div align="left"><FONT size=2 face="serif">EUR</FONT> </div></TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">595,770</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Viridian Group Plc Term Loan, 8.608% due 4/20/2012</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">806,016</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=center nowrap>
    <div align="left"><FONT size=2 face="serif">GBP</FONT> </div></TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">1,197,885</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Viridian Group Plc Term Loan, 8.234% - 10.309%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 12/21/2012</FONT>  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,131,934</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">22,323,600</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>
<B><FONT size=2 face="serif">Commercial Services &amp;</FONT></B>  </TD>
  <TD width=5% align=center nowrap>
    <div align="left"><FONT size=2 face="serif">USD</FONT> </div></TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">158,019</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Aramark Corp. Letter of Credit, 6.845% due 1/30/2014</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">145,259</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="serif">Supplies - 2.3%</FONT></B>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">2,487,331</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Aramark Corp. Term Loan B, 6.705% due 1/30/2014</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">2,286,479</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">1,240,625</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Brickman Group, Inc. Term Loan, 7.143%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 1/30/2014</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">1,141,375</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">500,000</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">EnviroSolutions Term Loan B, 8.349% - 9.278%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 7/01/2012</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">470,000</FONT>  </TD>
</TR>
</TABLE>
<P align="center">
<FONT size=2 face="sans-serif">2</FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE><BR>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of January 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(in U.S. dollars)</FONT></B> </div></TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<B><FONT size=2 face="serif">Face</FONT></B>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>&nbsp;  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Industry</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Floating Rate Loan Interests++</FONT></B>  </TD>
  <TD width=1% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=left nowrap style="border-bottom:1px solid #000000;"><div align="center"><B><FONT size=2 face="serif">Value</FONT></B> </div></TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=5% bgcolor="#E6E6E6"><FONT size=2 face="serif">USD</FONT> </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">167,105</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Euramax International Plc Second Lien Term</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Loan, 12.646% due 6/29/2013</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6"><div align="left"><FONT size=2 face="serif">&#36;</FONT></div></TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif"> 120,984</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">82,895</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Euramax International Plc Second Lien Term</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Loan, 12.646% due 11/12/2037</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">49,737</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,492,500</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Jason, Inc. Term Loan B, 6.523% due 4/30/2010</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,402,950</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">1,123,200</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">John Maneely Co. Term Loan B, 7.693% - 8.13%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 12/15/2013</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">953,115</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">250,000</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Kion GmbH Term Loan B, 6.751% due 3/04/2015</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">228,625</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">250,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Kion GmbH Term Loan C, 7.251% due 3/04/2016</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">227,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">769,056</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Language Line Services Term Loan B1, 8.34%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 11/14/2011</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">738,294</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">3,650,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Service Master Bridge Loan, 9.59% due 6/19/2008</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">3,061,438</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">644,164</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Sirva Worldwide Tranche B Term Loan, 11.93%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 12/01/2010</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">321,008</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">1,198,637</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Thermo Fluids, Inc. Term Loan, 8.34% - 8.46%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 6/27/2013</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">1,024,834</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">2,962,575</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">West Corp. Term Loan, 5.66% - 7.428%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 10/31/2013</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,725,569</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">14,897,167</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="serif">Communications Equipment - 1.0%</FONT></B>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">5,245,625</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Alltel Corp. Term Loan B3, 6.773% due 5/18/2015</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">4,766,232</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">1,990,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">SafeNet, Inc. First Lien Term Loan, 7.127%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 4/12/2014</FONT>  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,751,200</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">6,517,432</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>
<B><FONT size=2 face="serif">Computers &amp; Peripherals - 0.6%</FONT></B>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">750,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Intergraph Corp. Second Lien Term Loan, 11.062%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 11/17/2014</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">729,375</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">418,690</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Intergraph Corp. Term Loan, 6.845% - 7.081%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 5/15/2014</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">398,803</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">1,853,049</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Reynolds and Reynolds Co. First Lien Term Loan,</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">6.843% due 10/31/2012</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">1,695,540</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,250,000</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Reynolds and Reynolds Co. Second Lien Term</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Loan, 10.343% due 10/31/2013</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,193,750</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,017,468</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Construction Materials - 0.1%</FONT></B>  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">483,750</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Nortek, Inc. Term Loan, 7.10% due 8/27/2011</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">442,631</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>
<B><FONT size=2 face="serif">Containers &amp; Packaging - 1.8%</FONT></B>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">250,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Atlantis Plastics Term Loan C, 13.98% due 3/22/2012</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">175,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">363,636</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Bluegrass Container Co. Delay Draw Term Loan,</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">9.293% due 6/30/2013</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">359,636</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">340,273</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Bluegrass Container Co. Delay Draw Term Loan 2,</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">6.543% - 7.08% due 6/30/2013</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">328,971</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,137,227</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Bluegrass Container Co. First Lien Term Loan,</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">6.543% - 7.08% due 6/30/2013</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,099,455</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">1,136,364</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Bluegrass Container Co. Second Lien Term Loan,</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">9.293% due 6/30/2013</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">1,123,864</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">992,500</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Consolidated Container Co. LLC First Lien Term</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Loan, 7.23% due 4/15/2014</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">802,684</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">350,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Consolidated Container Co. LLC Second Lien Term</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Loan, 10.345% - 10.48% due 10/15/2014</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">203,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">4,962,500</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Graham Packaging Co. LP Term Loan B,</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">6.813% - 7.75% due 4/15/2011</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">4,577,906</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;</TD>
  <TD width=5%><FONT size=2 face="serif">EUR</FONT> </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">1,000,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Mivisa Envases SAU Term Loan B, 7.087%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 6/03/2015</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">1,358,473</FONT>  </TD>
</TR>
</TABLE>
<P align="center">
<FONT size=2 face="sans-serif">3</FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE><BR>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of January 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(in U.S. dollars)</FONT></B> </div></TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<B><FONT size=2 face="serif">Face</FONT></B>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>&nbsp;  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Industry</FONT></B>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Floating Rate Loan Interests++</FONT></B>  </TD>
  <TD width=1% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=left nowrap style="border-bottom:1px solid #000000;"> <div align="center"><B><FONT size=2 face="serif">Value</FONT></B> </div></TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">USD</FONT>  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">567,645</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Smurfit-Stone Container Corp. Deposit Account,</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">6.70% due 11/01/2010</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6"><div align="left"><FONT size=2 face="serif">&#36;</FONT></div></TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif"> 540,524</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">1,226,615</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Solo Cup Co. Term Loan, 8.13% - 8.54%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 2/27/2011</FONT>  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,180,179</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">11,749,692</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>
<B><FONT size=2 face="serif">Distributors - 0.5%</FONT></B>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">332,184</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Buhrmann USA, Inc. Term Loan C, 6.966% - 6.983%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 12/23/2010</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">323,880</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,503,600</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Buhrmann USA, Inc. Term Loan D, 6.99% - 7.01%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 11/23/2010</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,466,010</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">1,485,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Keystone Automotive Operations, Inc. Term Loan</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">B, 7.451% - 8.396% due 1/15/2012</FONT>  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,282,050</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,071,940</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>
<B><FONT size=2 face="serif">Diversified Financial</FONT></B>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">1,407,143</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">BNY ConvergEx Group First Lien Term Loan,</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>
<B><FONT size=2 face="serif">Services - 0.9%</FONT></B>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">7.83% - 9.25% due 8/01/2013</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">1,305,125</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">4,000,000</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">JG Wentworth Manufacturing First Lien Term Loan,</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">7.093% due 4/03/2014</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">3,420,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">400,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">JG Wentworth Manufacturing Term Loan B, 7.093%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 4/15/2014</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">342,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">752,055</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Professional Services Term Loan, 7.60%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 10/31/2012</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">737,014</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,804,139</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>
<B><FONT size=2 face="serif">Diversified Telecommunication</FONT></B>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">500,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Country Road Communications Second Lien Term</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>
<B><FONT size=2 face="serif">Services - 1.4%</FONT></B>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Loan, 12.59% due 7/15/2013</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">492,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">EUR</FONT>  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">2,000,000</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Eircom Group Plc Term Loan B, 6.625% due 8/14/2014</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">2,734,912</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">2,000,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Eircom Group Plc Term Loan C, 6.875% due 8/14/2013</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">2,751,751</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">USD</FONT>  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">2,000,000</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Iowa Telecom Term Loan B, 6.60% - 7.23%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 11/23/2011</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,883,750</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="serif">EUR</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">653,637</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Wind Telecomunicazione Spa Term Loan A,</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">6.202% - 6.722% due 9/22/2012</FONT>  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">935,727</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">8,798,640</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>
<B><FONT size=2 face="serif">Electric Utilities - 0.1%</FONT></B>  </TD>
  <TD width=5% align=left nowrap>
<FONT size=2 face="serif">USD</FONT>  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">762,973</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">TPF Generation Holdings LLC First Lien Term Loan,</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">6.83% due 11/28/2013</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">680,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">150,543</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">TPF Generation Holdings LLC Letter of Credit,</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">6.93% due 11/28/2013</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">134,171</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">47,192</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">TPF Generation Holdings LLC Revolving Credit,</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">6.93% due 11/28/2013</FONT>  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">42,060</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">856,231</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>
<B><FONT size=2 face="serif">Electrical Equipment - 0.4%</FONT></B>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">500,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Electrical Components International Holdings</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Second Lien Term Loan, 11.37% due 5/05/2014</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">410,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">980,000</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Generac Power Systems, Inc. First Lien Term Loan,</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">7.203% due 11/15/2013</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">816,200</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">500,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Generac Power Systems, Inc. Second Lien Term</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Loan, 10.703% due 5/10/2014</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">368,215</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,121,739</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Sensus Metering Systems, Inc. Term Loan B-1,</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">5.926% - 7.04% due 12/17/2010</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,065,652</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">72,880</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Sensus Metering Systems, Inc. Term Loan B-2,</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">6.718% - 6.901% due 12/19/2010</FONT>  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">69,236</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,729,303</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>
<B><FONT size=2 face="serif">Electronic Equipment &amp;</FONT></B>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">890,625</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Flextronics International Ltd. Delay Draw Term</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>
<B><FONT size=2 face="serif">Instruments - 0.6%</FONT></B>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Loan, 7.455% due 10/05/2014</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">862,793</FONT>  </TD>
</TR>
</TABLE>
<P align="center">
<FONT size=2 face="sans-serif">4</FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE><BR>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of January 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(in U.S. dollars)</FONT></B> </div></TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<B><FONT size=2 face="serif">Face</FONT></B>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>&nbsp;  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Industry</FONT></B>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Floating Rate Loan Interests++</FONT></B>  </TD>
  <TD width=1% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=left nowrap style="border-bottom:1px solid #000000;"> <div align="center"><B><FONT size=2 face="serif">Value</FONT></B> </div></TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">USD</FONT>  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">3,099,375</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Flextronics International Ltd. Term Loan B,</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">7.394% - 7.395% due 10/05/2012</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;"><div align="left"><FONT size=2 face="serif">&#36;</FONT></div></TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif"> 3,006,393</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,869,186</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="serif">Energy Equipment &amp; Services -</FONT></B>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">3,473,173</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Dresser, Inc. First Lien Term Loan, 7.345% - 7.449%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="serif">0.8%</FONT></B>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 5/15/2014</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">3,095,466</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">491,250</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">MEG Energy Corp. Term Loan B, 6.83%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 4/03/2013</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">464,477</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,473,750</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Trinidad Energy Services Term Loan, 7.131%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 4/15/2011</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,429,537</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,989,480</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="serif">Food &amp; Staples Retailing - 1.8%</FONT></B>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">66,667</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Advance Food Co. Term Loan, 6.13% due 3/31/2014</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">59,333</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">771,944</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Advance Food Co. Term Loan B, 6.58%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 3/31/2014</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">687,031</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">981,084</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Advantage Sales &amp; Marketing Term Loan B,</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">6.42% - 6.85% due 4/15/2013</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">906,276</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">980,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Bolthouse Farms, Inc. First Lien Term Loan, 7%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 11/29/2012</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">922,425</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">500,000</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">DS Waters LP Term Loan B, 9.225% due 3/31/2012</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">472,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">279,689</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Dole Food Co., Inc. Letter of Credit, 6.507%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 4/12/2013</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">253,608</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">618,288</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Dole Food Co., Inc. Term Loan B, 6.00% - 8.25%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 4/12/2013</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">560,633</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">2,060,961</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Dole Food Co., Inc. Term Loan C, 6.313% - 8.25%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 3/31/2013</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">1,868,776</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,933,061</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Eight O'Clock Coffee First Lien Term Loan, 7.625%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 7/21/2012</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,855,739</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">495,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">McJunkin Corp. Term Loan B, 8.08% due 1/30/2014</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">484,172</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,160,833</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">The Pantry Term Loan B, 6.60% due 4/25/2014</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,056,358</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">591,248</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Pierre Foods, Inc. Term Loan B, 8.88%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 6/30/2010</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">545,426</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,364,688</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Sturm Foods, Inc. First Lien Term Loan, 7.563%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 1/22/2014</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">1,109,945</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">500,000</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Sturm Foods, Inc. First Lien Term Loan, 7.563%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 1/30/2014 (j)</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">406,667</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">500,000</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Sturm Foods, Inc. Second Lien Term Loan, 11.06%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 11/12/2037</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">396,667</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">11,585,556</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="serif">Food Products - 1.1%</FONT></B>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">434,303</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Chiquita Brands International Term Loan C, 6.313%</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">due 6/28/2012</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">420,840</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">1,937,500</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Jetro Holdings, Inc. Term Loan, 7.19% due 5/11/2014</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">1,845,469</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">2,166,771</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">Michael Foods Term Loan B, 6.91% due 11/21/2010</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">2,118,019</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">2,902,500</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">OSI Industries Term Loan B, 6.843% due 9/02/2011</FONT>  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,721,093</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">7,105,421</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>
<B><FONT size=2 face="serif">Health Care Equipment &amp;</FONT></B>  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">4,488,750</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Biomet, Inc. Term Loan B, 7.858% due 12/28/2014</FONT>  </TD>
  <TD width=1% align=right nowrap>&nbsp;</TD>
  <TD width=9% align=right nowrap>
<FONT size=2 face="serif">4,348,988</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">
<B><FONT size=2 face="serif">Supplies - 1.2%</FONT></B>  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">2,500,000</FONT>  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">ReAble Therapeutics Finance LLC Term Loan,</FONT>  </TD>
  <TD width=1% align=left nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">7.83% due 5/14/2014</FONT>  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6">
<FONT size=2 face="serif">2,439,583</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<FONT size=2 face="serif">972,500</FONT>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">Select Medical Term Loan B, 6.83% - 8.25%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=left nowrap>&nbsp;  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>
<FONT size=2 face="serif">due 2/24/2012</FONT>  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">901,184</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=5% bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=1% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=right nowrap bgcolor="#E6E6E6" style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">7,689,755</FONT>  </TD>
</TR>
</TABLE>
<P align="center">
<FONT size=2 face="sans-serif">5</FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE><BR>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of January 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(in U.S. dollars)</FONT></B> </div></TD>
</TR>
</TABLE>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<B><FONT size=2 face="serif">Face</FONT></B>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>&nbsp;  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Industry</FONT></B>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Floating Rate Loan Interests++</FONT></B>  </TD>
  <TD width=1% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=left nowrap style="border-bottom:1px solid #000000;"> <div align="center"><B><FONT size=2 face="serif">Value</FONT></B> </div></TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Health Care Providers &amp;</FONT></B>  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">USD</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Aearo Technologies Second Lien Term Loan,</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Services - 2.6%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">10.33% due 5/23/2014</FONT>  </TD>
  <TD width=1% align=right nowrap ><div align="left"><FONT size=2 face="serif">&#36;</FONT></div></TD>
  <TD align=right nowrap>
<FONT size=2 face="serif"> 995,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">856,860</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">CCS Medical First Lien Term Loan, 8.10%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 10/31/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">810,804</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">7,842,614</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Community Health Term Loan B, 7.331%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 7/25/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">7,213,699</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,985,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Health Management Associates, Inc. Term Loan B,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">6.58% - 6.595% due 1/15/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,739,356</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">841,729</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">HealthSouth Corp. Term Loan B, 6.92% - 7.35%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 3/12/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">784,211</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">EUR</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,995,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">PTS Cardinal Health Term Loan B, 6.976%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 11/19/2037</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,728,692</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">USD</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">997,494</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Surgical Care Affiliates Term Loan B, 7.08%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 12/26/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,737,820</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">977,724</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Vanguard Health Systems Term Loan B, 7.095%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 9/23/2011</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">902,765</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">16,912,347</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Health Care Technology - 0.2%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Misys Hospital Systems, Inc. Term Loan B, 8.22%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">due 10/11/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,462,500</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Hotels, Restaurants &amp;</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">446,371</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Arby's Restaurant Group Term Loan B, 7.00% - 7.095%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Leisure - 3.3%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 7/31/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">425,447</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,202,870</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Cracker Barrel Term Loan B, 6.40% due 4/27/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,059,683</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,667,717</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Greektown Casino Term Loan B, 7.188%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 12/01/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,550,977</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">478,068</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Green Valley Ranch Gaming LLC Term Loan,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">6.843% - 7.081% due 1/29/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">420,700</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Green Valley Ranch Gaming LLC Term Loan, 8.331%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 8/30/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,245,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">700,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Harrah's Entertainment, Inc. Term Loan B2, 6.244%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 1/29/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">642,542</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Harrah's Entertainment, Inc. Term Loan B3,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">6.244% due 1/29/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">460,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">550,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Harrah's Operating Term Loan B, 6.244%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 1/31/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">505,313</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,288,500</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Las Vegas Sands LLC Term Loan B, 6.58%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 5/04/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,021,986</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,687,447</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">MotorCity Casino Term Loan B, 6.843% - 7.151%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 7/21/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,569,326</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">75,188</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">OSI Restaurant Partners, Inc. Revolving Credit,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">7.128% due 5/15/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">63,048</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">889,514</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">OSI Restaurant Partners, Inc. Term Loan B, 7.125%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 5/15/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">745,895</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,066,681</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Penn National Gaming Term Loan B, 6.58% - 6.76%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 10/03/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,956,372</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,970,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">QCE LLC First Lien Term Loan, 7.00% - 7.125%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 5/05/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,760,688</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,991,370</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Travelport, Inc. Payment In Kind Term</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Loan, 11.83% due 3/20/2012 (j)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,362,729</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">28,997</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Travelport, Inc. Standby Letter of Credit, 7.08%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 8/31/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">26,623</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">144,516</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Travelport, Inc. Term Loan B, 7.08% due 8/31/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">132,683</FONT>  </TD>
</TR>
</TABLE>
<P align="center">
<FONT size=2 face="sans-serif">6</FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE><BR>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of January 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(in U.S. dollars)</FONT></B> </div></TD>
</TR>
</TABLE>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<B><FONT size=2 face="serif">Face</FONT></B>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>&nbsp;  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Industry</FONT></B>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Floating Rate Loan Interests++</FONT></B>  </TD>
  <TD width=1% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=left nowrap style="border-bottom:1px solid #000000;"> <div align="center"><B><FONT size=2 face="serif">Value</FONT></B> </div></TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">USD</FONT>  </TD>
<TD align=right nowrap>
<FONT size=2 face="serif">492,437</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Wembley, Inc. First Lien Term Loan, 7.35% - 7.97%</FONT>  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 8/12/2012</FONT>  </TD>
  <TD width=1% align=right nowrap style="border-bottom:1px solid #000000;"><div align="left"><FONT size=2 face="serif">&#36;</FONT></div></TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif"> 438,269</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">21,387,281</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Household Durables - 0.1%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">94,702</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Berkline Corp. First Lien Term Loan, 8.49%</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 11/10/2011</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">56,821</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,005,050</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Berkline Corp. Second Lien Term Loan, 14.25%</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 5/11/2012</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">50,252</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">385,203</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Visant Holding Corp. Term Loan C, 6.718%</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 10/04/2011</FONT>  </TD>
  <TD><div style="border-bottom:1px solid #000000"> &nbsp;</div></TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">376,215</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">483,288</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Household Products - 0.1%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,087,115</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Central Garden &amp; Pet Term Loan B, 6.03% - 6.35%</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">due 9/30/2012</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">940,355</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">IT Services - 2.1%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">735,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Affiliated Computer Services Term Loan B, 5.285%</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 3/20/2013</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">702,040</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Alliance Data Systems Term Loan, 6.114%</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 12/15/2014</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,720,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Audio Visual Services Corp. Second Lien Term</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Loan, 10.35% due 9/15/2014</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">920,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">250,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Emdeon Business Services Second Lien Term Loan,</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">9.83% due 5/16/2013</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">238,750</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,738,125</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">First Data Corp. Term Loan B, 7.58% - 7.634%</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 9/24/2014</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,266,468</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">692,221</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">RedPrairie Corp. First Lien Term Loan,</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">8.063% - 9.25% due 7/17/2012</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">643,765</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,437,875</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">SunGard Data Systems, Inc. Term Loan B, 6.898%</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 2/28/2014</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,254,274</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">940,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Verifone, Inc. Term Loan B, 6.71% due 2/28/2013</FONT>  </TD>
  <TD><div style="border-bottom:1px solid #000000"> &nbsp;</div></TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">902,400</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">13,647,697</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Independent Power Producers &amp;</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">428,571</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">The AES Corp. Term Loan, 7.00% - 7.19%</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Energy Traders - 2.2%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 4/30/2008</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">409,018</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,992,500</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">TXU Corp. Term Loan B-2, 8.396% due 10/14/2029</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,746,298</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">11,970,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">TXU Corp. Term Loan B-3, 8.396% due 10/10/2014</FONT>  </TD>
  <TD><div style="border-bottom:1px solid #000000"> &nbsp;</div></TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">11,030,080</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">14,185,396</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Industrial Conglomerates - 0.1%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">93,750</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Trimas Corp. Letter of Credit, 6.85% due 8/02/2011</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">91,875</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">401,172</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Trimas Corp. Term Loan B, 5.516% due 8/02/2013</FONT>  </TD>
  <TD><div style="border-bottom:1px solid #000000"> &nbsp;</div></TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">393,148</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">485,023</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Insurance - 0.3%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">740,631</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Conseco Term Loan B, 6.845% due 10/10/2013</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">665,334</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,107,854</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Sedgwick Claims Management Service, Inc. Term</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Loan B, 7.08% due 3/03/2013</FONT>  </TD>
  <TD><div style="border-bottom:1px solid #000000"> &nbsp;</div></TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,049,692</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,715,026</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Internet &amp; Catalog Retail - 0.2%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">650,752</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">FTD Flowers Term Loan, 6.595% due 7/28/2013</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">642,618</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">960,610</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Oriental Trading First Lien Term Loan, 7.10% - 7.34%</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 7/31/2013</FONT>  </TD>
  <TD><div style="border-bottom:1px solid #000000"> &nbsp;</div></TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">845,337</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,487,955</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Leisure Equipment &amp; Products - 0.1%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">985,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">24 Hour Fitness Term Loan B, 7.19% - 7.35%</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">due 6/08/2012</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">886,500</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Life Sciences Tools &amp; Services - 0.2%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">982,500</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Quintiles Transnational Term Loan B, 6.83%</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 3/21/2013</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">941,972</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">250,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Quintiles Transnational Term Loan C, 8.83%</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 3/21/2014</FONT>  </TD>
  <TD><div style="border-bottom:1px solid #000000"> &nbsp;</div></TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">239,375</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,181,347</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Machinery - 2.4%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">735,439</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Blount, Inc. US Term Loan B, 6.381% due 8/09/2010</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">709,699</FONT>  </TD>
</TR>
</TABLE>
<P align="center">
<FONT size=2 face="sans-serif">7</FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE><BR>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of January 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(in U.S. dollars)</FONT></B> </div></TD>
</TR>
</TABLE>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<B><FONT size=2 face="serif">Face</FONT></B>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>&nbsp;  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Industry</FONT></B>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Floating Rate Loan Interests++</FONT></B>  </TD>
  <TD width=1% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=left nowrap style="border-bottom:1px solid #000000;"> <div align="center"><B><FONT size=2 face="serif">Value</FONT></B> </div></TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>
<FONT size=2 face="serif">USD</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">995,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Bucyrus International Term Loan, 6.229% - 6.624%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 5/04/2014</FONT>  </TD>
  <TD width="1%" align=left nowrap><FONT size=2 face="serif">&#36;</font></TD>
  <TD align=right nowrap>
<FONT size=2 face="serif"> 945,250</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,940,979</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Colfax Corp. Term Loan B, 7.125% due 12/19/2011</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,902,159</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>
<FONT size=2 face="serif">GBP</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Invensys Plc, 8.405% due 12/09/2010</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,938,832</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>
<FONT size=2 face="serif">USD</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Invensys Plc Term Loan A, 6.90% due 12/15/2010</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">969,167</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Lincoln Industrial Second Lien Term Loan, 10.87%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 12/18/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,470,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">492,500</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">NACCO Materials Handling Group Term Loan B,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">6.74% - 6.87% due 3/21/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">453,100</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Navistar International Transportation Corp.</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Revolving Credit, 8.23% - 8.324% due 6/30/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">900,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,750,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Navistar International Transportation Corp. Term</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Loan, 8.23% due 6/30/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,475,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,468,750</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">OshKosh Truck Corp. Term Loan B, 6.90%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 11/30/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,277,982</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">82,917</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Standard Steel Delay Draw Term Loan, 5.79% - 6.44%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 6/21/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">80,015</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">410,417</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Standard Steel First Lien Term Loan, 7.33%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 6/21/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">396,052</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">621,458</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Synventive Molding Solutions Mezzanine,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 11/23/2037 (e)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">279,656</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">289,305</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Wastequip Delay Draw Term Loan, 7.08%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 1/17/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">258,928</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">687,100</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Wastequip Term Loan B, 7.08% due 1/17/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">614,954</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="5%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">15,670,794</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Marine - 0.4%</FONT></B>  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,488,759</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Dockwise Shipping BV Term Loan B, 7.205%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 4/26/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,414,321</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,488,759</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Dockwise Shipping BV Term Loan C, 7.205% - 7.705%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 4/26/2016</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,421,765</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="5%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,836,086</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Media - 15.9%</FONT></B>  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">985,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Acosta, Inc. Term Loan, 7.10% due 2/28/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">914,408</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Affinion Group, Inc. Term Loan, 11.678%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 1/31/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">420,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Affinion Group, Inc. Term Loan, 11.68%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 3/01/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">420,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,485,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Alix Partners Term Loan B, 6.38% due 10/30/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,427,456</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">985,058</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Atlantic Broadband Finance Term Loan B, 7.08%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 2/27/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">934,985</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">711,964</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">CMP Susquehanna Corp. Term Loan B, 5.989% - 6.875%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 6/07/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">624,749</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,930,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Cablevision Systems Corp. Term Loan B, 6.896%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 3/23/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,606,828</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,995,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Catalina Marketing Group Term Loan, 7.83%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 10/01/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,818,776</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">6,451,250</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Cequel Communications LLC Term Loan B,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">6.646% - 8.25% due 11/05/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,588,395</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">6,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Charter Communications Term Loan B, 6.99%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 11/23/2037</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,221,152</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">750,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Choice Cable Second Lien Term Loan, 12.375%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 1/28/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">630,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,106,605</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Cinemark Term Loan, 6.07% - 6.98% due 10/05/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,007,183</FONT>  </TD>
</TR>
</TABLE>
<P align="center">
<FONT size=2 face="sans-serif">8</FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE><BR>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of January 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(in U.S. dollars)</FONT></B> </div></TD>
</TR>
</TABLE>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<B><FONT size=2 face="serif">Face</FONT></B>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>&nbsp;  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Industry</FONT></B>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Floating Rate Loan Interests++</FONT></B>  </TD>
  <TD width=1% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=left nowrap style="border-bottom:1px solid #000000;"> <div align="center"><B><FONT size=2 face="serif">Value</FONT></B> </div></TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>
<FONT size=2 face="serif">USD</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,290,495</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Clarke American Corp. Term Loan B, 7.33% - 7.70%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 3/12/2013</FONT>  </TD>
  <TD width="1%" align=left nowrap><FONT size=2 face="serif">&#36;</font></TD>
  <TD align=right nowrap>
<FONT size=2 face="serif"> 1,861,027</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">973,460</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">ClientLogic Holding Corp. Term Loan B,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">7.345% - 7.46% due 1/30/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">863,946</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,307,343</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">DIRECTV Holdings LLC Tranche B Term Loan,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">6.355% due 4/13/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,276,112</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">617,737</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Dex Media West LLC Term Loan B, 6.33% - 6.38%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 3/09/2010</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">597,403</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,457,874</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Dex Media West LLC Term Loan B-1, 5.48% - 6.65%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 3/09/2010</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,372,232</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">995,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Discovery Communications Term Loan B, 6.83%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 5/15/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">942,763</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">8,500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Education Media and Publishing Second Lien Term</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Loan, 13.641% due 11/14/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">8,075,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">642,857</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Formula One Group Second Lien Term Loan, 7.093%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 7/05/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">573,750</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Formula One Group Term Loan B, 8.218%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 12/31/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">926,875</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">857,143</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Formula One Group Term Loan B, 7.093%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 1/05/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">794,464</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">591,667</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">GateHouse Media Operating, Inc. Delay Draw Term</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Loan, 6.45% - 7.07% due 9/15/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">463,867</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">GateHouse Media Operating, Inc. Term Loan B,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">7.07% due 9/15/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">784,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Gray Communications Systems, Inc. First Lien Delay</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Draw Term Loan, 6.21% due 9/18/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,787,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">487,512</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">HIT Entertainment Ltd. First Lien Term Loan, 6.60%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 8/31/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">438,761</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,492,500</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Hanley-Wood LLC Term Loan B, 6.305% - 6.979%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 3/07/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,160,419</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,477,500</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Idearc, Inc. Term Loan B, 6.83% due 11/15/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,070,455</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,700,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Insight Midwest Holdings LLC Term Loan B, 6.48%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 4/06/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,460,750</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Intelsat Ltd. Term Loan B, 5.644% due 1/31/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">974,583</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">496,250</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Knology, Inc. First Lien Term Loan, 6.953%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 5/11/2010</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">446,625</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,980,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Mediacom Communications Term Loan D,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">5.13% - 5.74% due 1/31/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,743,107</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,955,250</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Mediacom LLC Term Loan C, 5.13% - 6.60%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 1/31/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,722,714</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,912,500</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Metro-Goldwyn-Mayer Studios, Inc. Term Loan B,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">8.108% due 4/30/2011</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,347,563</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">356,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Multicultural Radio Broadcasting Inc. Term Loan,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">7.901% due 12/15/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">345,320</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>
<FONT size=2 face="serif">GBP</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">NTL Cable Plc Second Lien Term Loan, 8.905%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 7/17/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,586,013</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">913,855</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">NTL Cable Plc Term Loan, 8.283% due 11/19/2037</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,662,777</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>
<FONT size=2 face="serif">USD</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">456,928</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">NTL Cable Plc Term Loan B, 6.055% due 1/10/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">428,370</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">National Cinemedia LLC Term Loan B, 6.87%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 2/28/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">906,563</FONT>  </TD>
</TR>
</TABLE>
<P align="center">
<FONT size=2 face="sans-serif">9</FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE><BR>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of January 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(in U.S. dollars)</FONT></B> </div></TD>
</TR>
</TABLE>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<B><FONT size=2 face="serif">Face</FONT></B>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>&nbsp;  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Industry</FONT></B>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Floating Rate Loan Interests++</FONT></B>  </TD>
  <TD width=1% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=left nowrap style="border-bottom:1px solid #000000;"> <div align="center"><B><FONT size=2 face="serif">Value</FONT></B> </div></TD>
</TR>

<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">USD</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">300,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">New Wave Communications Delay Draw Term Loan,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">8.345% - 10% due 6/30/2013</FONT>  </TD>
  <TD width="1%" align=left nowrap><FONT size=2 face="serif">&#36;</font></TD>
  <TD align=right nowrap>
<FONT size=2 face="serif"> 285,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">935,750</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">New Wave Communications Term Loan B, 8.345%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 6/30/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">888,963</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,902,132</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Nexstar Broadcasting Group Term Loan, 6.58%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 10/01/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,711,919</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,801,065</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Nexstar Broadcasting Group Term Loan B, 6.58%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 10/01/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,620,958</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,456,260</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Nielsen Finance LLC Term Loan B, 6.661% - 7.146%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 8/15/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,182,638</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,972,475</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">PanAmSat Corp. Term Loan B, 6.60% due 1/19/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,583,931</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,116,563</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Penton Media Term Loan, 5.535% - 7.23%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 2/15/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">983,971</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Penton Media Term Loan, 9.98% due 2/15/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">835,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">EUR</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">432,414</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">ProSiebenSat 1 Media AG Mezzanine Term Loan,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">7.075% due 6/28/2017</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">452,152</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,432,414</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">ProSiebenSat 1 Media AG Second Lien Term Loan,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">2.625% - 8.45% due 12/28/2016</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,511,996</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">67,586</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">ProSiebenSat.1 Media AG Term Loan B, 6.504%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 6/30/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">86,055</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">67,586</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">ProSiebenSat.1 Media AG Term Loan B, 6.504%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 6/30/2016</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">76,918</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">USD</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">995,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">RCN Corp. Term Loan B, 7.125% due 5/25/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">917,266</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,749,638</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">RH Donnelley, Inc. Term Loan D-2, 6.39% - 7.22%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 8/30/2011</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,602,532</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,591,605</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">San Juan Cable First Lien Term Loan, 11.97%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 10/26/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,426,476</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">United Pan Europe Communications Term Loan N,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">6.381% due 11/19/2037</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,130,313</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">201,342</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Univision Communications, Inc. Delay Draw Term</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Loan, 7.21% due 9/30/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">165,101</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">6,117,597</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Univision Communications, Inc. First Lien Term</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Loan, 7.095% - 7.253% due 3/31/2016</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,735,247</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Univision Communications, Inc. Second Lien Term Loan,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">7.345% due 3/15/2009</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">937,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,916,081</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Warner Music Group Term Loan B, 5.718% - 7.081%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 2/28/2011</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,781,955</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">EUR</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Yell Group Plc Term Loan B, 6.438% due 4/21/2008</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,065,586</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">USD</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Yell Group Plc Term Loan B, 6.845% due 8/09/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">935,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">102,143,368</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Metals &amp; Mining - 0.1%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">784,495</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Compass Minerals Group, Inc. Term Loan,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">6.33% - 6.59% due 12/22/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">756,057</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Multi-Utilities - 0.9%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">496,250</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Brand Energy &amp; Infrastructure Services, Inc. Term</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Loan B, 7.125% - 7.313% due 2/15/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">460,272</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Brand Energy &amp; Infrastructure Services, Inc. Term</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Loan B, 11.063% - 11.19% due 2/15/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">450,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">127,389</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Coleto Creek Letter of Credit, 7.948% due 7/31/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">119,427</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,821,972</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Coleto Creek Term Loan B, 7.58% due 7/31/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,708,098</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">70,313</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">MACH Gen LLC Letter of Credit, 6.83%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 2/22/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">62,930</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">672,891</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">MACH Gen LLC Term Loan, 7% due 2/22/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">602,237</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">158,537</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">NE Energy Letter of Credit, 7.375% due 10/03/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">144,268</FONT>  </TD>
</TR>
</TABLE>
<P align="center">
<FONT size=2 face="sans-serif">10</FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE><BR>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of January 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(in U.S. dollars)</FONT></B> </div></TD>
</TR>
</TABLE>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<B><FONT size=2 face="serif">Face</FONT></B>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>&nbsp;  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Industry</FONT></B>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Floating Rate Loan Interests++</FONT></B>  </TD>
  <TD width=1% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=left nowrap style="border-bottom:1px solid #000000;"> <div align="center"><B><FONT size=2 face="serif">Value</FONT></B> </div></TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">USD</FONT>  </TD>
<TD align=right nowrap>
<FONT size=2 face="serif">1,290,497</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">NE Energy Term Loan B, 7.43% due 10/31/2013</FONT>  </TD>
  <TD width="1%" align=left nowrap><FONT size=2 face="serif">&#36;</font></TD>
  <TD align=right nowrap>
<FONT size=2 face="serif"> 1,180,805</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">469,160</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Wolf Hollow I LP First Lien Term Loan, 7.08%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 6/22/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">426,935</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">400,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Wolf Hollow I LP Letter of Credit, 7.095%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 6/22/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">364,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">100,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Wolf Hollow I LP Revolving Credit, 7.095% - 7.278%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 6/22/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">89,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,607,972</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Multiline Retail - 0.2%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,439,873</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Neiman Marcus Group, Inc. Term Loan,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">6.29% - 6.90% due 4/06/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,318,738</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Oil, Gas &amp; Consumable Fuels - 1.1%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">445,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Big West Oil &amp; Gas Term Loan B, 7.095%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 5/15/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">418,300</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">75,040</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">CR Gas Storage Bridge Loan, 6.741% due 5/08/2011</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">70,538</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">51,660</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">CR Gas Storage Delay Draw Term Loan, 6.808%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 5/08/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">48,560</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">461,205</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">CR Gas Storage Term Loan, 7.323% due 5/08/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">433,533</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">76,263</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">CR Gas Storage Term Loan B, 7.323% due 5/08/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">71,687</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">243,243</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Coffeyville Resources LLC Letter of Credit, 7.979%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 12/21/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">231,993</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">791,317</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Coffeyville Resources LLC Term Loan D,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">7.479% - 9.00% due 12/28/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">754,719</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,575,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Drummond Oil Term Loan B, 5.469% due 2/15/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,543,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">SandRidge Energy, Inc. Term Loan, 8.625%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 3/01/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,481,250</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">SandRidge Energy, Inc. Term Loan B, 8.354%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 3/01/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,425,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">923,929</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Western Refining Term Loan B, 6.595%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 5/30/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">841,545</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">7,320,625</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Paper &amp; Forest Products - 2.2%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">995,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Appleton Papers, Inc. Term Loan B, 6.293% - 6.65%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 6/05/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">912,912</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">30,611</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Cenveo, Inc. Delay Draw Term Loan, 6.66%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 9/07/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">28,201</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">921,153</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Cenveo, Inc. Term Loan C, 6.66% due 9/07/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">848,612</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,441,094</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Georgia-Pacific Corp. First Lien Term Loan B,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">6.58% - 6.896% due 2/14/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,249,295</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Georgia Pacific Corp. Term Loan B, 6.58% - 7.474%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 11/22/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,225,002</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,493,703</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Georgia Pacific Corp. Term Loan B-2, 6.58% - 6.896%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 3/08/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,297,770</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">NewPage Corp. Tem Loan B, 8.688% due 12/07/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,936,666</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,611,111</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">SP Newsprint Co. Tranche B-1 Credit Linked</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Deposit, 8.595% due 1/09/2010</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,433,889</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,250,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Verso Paper Holdings LLC Term Loan B, 11.161%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 2/01/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,143,750</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">14,076,097</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Personal Products - 0.4%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">750,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">American Safety Razor Co. Second Lien Term Loan,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">11.69% due 1/25/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">735,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">363,748</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Bare Escentuals Beauty, Inc. First Lien Term Loan,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">6.57% due 2/18/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">348,289</FONT>  </TD>
</TR>
</TABLE>
<P align="center">
<FONT size=2 face="sans-serif">11</FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE><BR>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of January 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(in U.S. dollars)</FONT></B> </div></TD>
</TR>
</TABLE>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<B><FONT size=2 face="serif">Face</FONT></B>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>&nbsp;  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Industry</FONT></B>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Floating Rate Loan Interests++</FONT></B>  </TD>
  <TD width=1% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=left nowrap style="border-bottom:1px solid #000000;"> <div align="center"><B><FONT size=2 face="serif">Value</FONT></B> </div></TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">USD</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,268,556</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Prestige Brands Term Loan B-1, 6.968% - 7.093%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 10/06/2010</FONT>  </TD>
  <TD width="1%" align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">&#36;</FONT></TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
 <FONT size=2 face="serif">1,226,535</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,309,824</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Pharmaceuticals - 0.5%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,492,500</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Pharmaceutical Technologies &amp; Services (PTS) Term</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Loan, 7.08% due 4/15/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,317,131</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,494,283</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Warner Chilcott Term Loan B, 6.845% - 7.198%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 1/18/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,418,324</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">513,971</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Warner Chilcott Term Loan C, 6.83% - 6.84%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 1/30/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">487,845</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,223,300</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Real Estate Management &amp;</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Enclave Term Loan B, 6.14% due 3/01/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,848,428</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Development - 1.2%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Georgian Towers Term Loan, 6.14% due 3/01/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,736,438</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">750,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Pivotal Promontory Second Lien Term Loan, 12.75%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 8/11/2011 (e)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">187,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,492,500</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Realogy Corp. Term Loan B, 7.505% due 9/22/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,248,103</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">411,467</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Yellowstone Club Term Loan B, 7.22%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 10/15/2010</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">367,234</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">7,387,703</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Road &amp; Rail - 0.7%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,750,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Rail America, Inc. Term Loan, 7.12% due 10/15/2008</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,706,250</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,976,744</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Swift Transportation Co., Inc. Term Loan B, 7.94%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 5/15/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,045,939</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,752,189</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Semiconductors &amp; Semiconductor</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">986,875</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Marvell Technology Group Term Loan B, 7.33%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Equipment - 0.2%</FONT></B>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">due 11/08/2009</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">927,663</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Software - 0.2%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">987,500</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Bankruptcy Management Solutions, Inc. First Lien</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Term Loan, 7.60% due 7/06/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">886,281</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">413,519</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">CCC Information Services, Inc. Term Loan B, 7.36%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 2/10/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">401,113</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,287,394</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Specialty Retail - 1.2%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,745,614</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">ADESA, Inc. Term Loan B, 7.08% due 10/30/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,522,113</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">586,040</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Burlington Coat Factory Warehouse Corp. Term</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Loan B, 7.32% due 4/15/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">501,715</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,241,880</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Claire's Stores Term Loan B, 7.58% - 7.595%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 5/24/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,009,648</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">660,946</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Eye Care Centers of America, Inc. Term Loan,</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">7.35% - 7.93% due 3/01/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">647,727</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Orchard Supply Hardware Term Loan B, 7.542%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 12/21/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,260,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">396,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Petco Animal Supplies Term Loan B, 7.08% - 7.21%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 3/22/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">365,310</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">918,503</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Rent-A-Center Term Loan B, 5.74% - 7.27%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 6/30/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">833,542</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,940,227</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Sensata Technologies Term Loan B, 6.76%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 4/27/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,730,267</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">7,870,322</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Textiles, Apparel &amp; Luxury</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">992,500</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">David's Bridal, Inc. Term Loan B, 6.58%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Goods - 0.4%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 1/30/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">908,138</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">494,669</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Renfro Corp. Term Loan B, 8.08% - 8.31%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 10/05/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">445,202</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">698,281</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">St. John Knits, Inc. Term Loan B, 7.843%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 8/24/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">684,316</FONT>  </TD>
</TR>
</TABLE>
<P align="center">
<FONT size=2 face="sans-serif">12</FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE><BR>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of January 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(in U.S. dollars)</FONT></B> </div></TD>
</TR>
</TABLE>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<B><FONT size=2 face="serif">Face</FONT></B>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>&nbsp;  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Industry</FONT></B>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Floating Rate Loan Interests++</FONT></B>  </TD>
  <TD width=1% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=left nowrap style="border-bottom:1px solid #000000;"> <div align="center"><B><FONT size=2 face="serif">Value</FONT></B> </div></TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">USD</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">296,806</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Warnaco, Inc. Term Loan, 5.871% - 6.70%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 1/31/2013</FONT>  </TD>
  <TD width="1%" align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">&#36;</FONT></TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
 <FONT size=2 face="serif">290,127</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,327,783</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Trading Companies &amp;</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,234,375</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Beacon Sales Co. Term Loan B, 6.729% - 7.081%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Distributors - 0.2%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 10/31/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,110,938</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">466,513</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">United Rentals, Inc. Term Loan, 7.11% due 2/14/2011</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">445,520</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,556,458</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Wireless Telecommunication</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,492,750</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Cellular South Term Loan B, 4.744% - 7.00%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Services - 0.6%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 5/16/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,418,112</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">609,626</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">NG Wireless First Lien Term Loan, 7.593% -7.595%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 11/12/2037</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">591,337</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,695,485</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">NTELOS Inc. Term Loan B, 7.10% due 8/14/2011</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,634,024</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,643,473</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Total Floating Rate Loan Interests</FONT></B>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">(Cost - &#36;436,751,787) - 62.4%</FONT></B>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">401,925,124</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Corporate
    Bonds</FONT></B></TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Aerospace &amp; Defense - 0.5%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,715,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">CHC Helicopter Corp., 7.375% due 5/01/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,582,087</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">330,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">DRS Technologies, Inc., 6.875% due 11/01/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">323,400</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">310,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">DRS Technologies, Inc., 7.625% due 2/01/2018</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">306,125</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">650,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Hexcel Corp., 6.75% due 2/01/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">627,250</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">570,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">TransDigm, Inc., 7.75% due 7/15/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">572,850</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,411,712</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Air Freight &amp; Logistics - 0.1%</FONT></B>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">905,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Park-Ohio Industries, Inc., 8.375% due 11/15/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">735,312</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Airlines - 0.1%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">520,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">American Airlines, Inc. Series 99-1, 7.324%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">due 4/15/2011</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">509,600</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Auto Components - 0.4%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">825,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Allison Transmission, 11.25% due 11/01/2015 (c)(j)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">641,236</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,575,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Lear Corp., 8.75% due 12/01/2016</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,401,750</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Metaldyne Corp., 10% due 11/01/2013 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">720,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,762,986</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Automobiles - 1.2%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">7,500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">DaimlerChrysler NA Holding Corp., 4.05%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 6/04/2008 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">7,510,747</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Ford Capital BV, 9.50% due 6/01/2010</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">460,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">7,970,747</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Building Products - 0.7%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">750,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">CPG International I, Inc., 10.50% due 7/01/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">667,500</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">269,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Goodman Global Holding Co., Inc., 7.991%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 6/15/2012 (a)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">271,690</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,475,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Goodman Global Holding Co., Inc., 7.875%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 12/15/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,595,360</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,590,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Momentive Performance Materials, Inc., 11.50%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 12/01/2016</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,023,437</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,557,987</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Capital Markets - 1.0%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">E*Trade Financial Corp., 12.50% due 11/30/2017 (c)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,387,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,651,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Marsico Parent Co., LLC, 10.625% due 1/15/2016 (c)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,664,255</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">909,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Marsico Parent Holdco, LLC, 12.50% due 7/15/2016 (c)(j)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">913,545</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">606,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Marsico Parent Superholdco, LLC, 14.50%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 1/15/2018 (c)(j)</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">574,254</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">6,539,554</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Chemicals - 1.5%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,100,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">American Pacific Corp., 9% due 2/01/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,083,500</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,085,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Ames True Temper, Inc., 8.258% due 1/15/2012 (a)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,688,850</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">120,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Chemtura Corp., 6.875% due 6/01/2016</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">109,200</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">310,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Huntsman LLC, 11.50% due 7/15/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">328,600</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">EUR</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,490,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Ineos Group Holdings Plc, 7.875% due 2/15/2016 (c)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,583,857</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">USD</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,090,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Ineos Group Holdings Plc, 8.50% due 2/15/2016 (c)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,630,200</FONT>  </TD>
</TR>
</TABLE>
<P align="center">
<FONT size=2 face="sans-serif">13</FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE><BR>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of January 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(in U.S. dollars)</FONT></B> </div></TD>
</TR>
</TABLE>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<B><FONT size=2 face="serif">Face</FONT></B>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>&nbsp;  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Industry</FONT></B>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Corporate
    Bonds</FONT></B></TD>
  <TD width=1% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=left nowrap style="border-bottom:1px solid #000000;"> <div align="center"><B><FONT size=2 face="serif">Value</FONT></B> </div></TD>
</TR>

<TR valign="bottom" bgcolor="#E6E6E6">  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">USD</FONT>  </TD>
<TD align=right nowrap>
<FONT size=2 face="serif">2,225,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Innophos, Inc., 8.875% due 8/15/2014</FONT>  </TD>
  <TD width="1%" align=left nowrap><FONT size=2 face="serif">&#36;</font></TD>
  <TD align=right nowrap>
<FONT size=2 face="serif"> 2,186,062</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">980,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Key Plastics LLC, 11.75% due 3/15/2013 (c)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">735,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">NOVA Chemicals Corp., 7.863% due 11/15/2013 (a)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">425,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">115,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Terra Capital, Inc. Series B, 7% due 2/01/2017</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">112,987</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">9,883,256</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Commercial Services &amp;</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Casella Waste Systems, Inc., 9.75% due 2/01/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,995,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Supplies - 2.2%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,236,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">DI Finance Series B, 9.50% due 2/15/2013 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,458,530</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">350,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">FTI Consulting, Inc., 7.75% due 10/01/2016</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">362,250</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">990,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Sally Holdings LLC, 10.50% due 11/15/2016</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">878,625</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,065,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Waste Services, Inc., 9.50% due 4/15/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,920,450</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,595,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">West Corp., 11% due 10/15/2016</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,271,450</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">13,886,305</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Communications Equipment - 0.5%</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,300,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Nortel Networks Ltd., 8.508% due 7/15/2011 (a)</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,069,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Containers &amp; Packaging - 1.0%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">835,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Berry Plastics Holding Corp., 8.866% due 9/15/2014 (a)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">684,700</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,210,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Berry Plastics Holding Corp., 8.875% due 9/15/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,073,875</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">885,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Crown Americas LLC, 7.75% due 11/15/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">900,487</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">585,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Graham Packaging Co. LP, 8.50% due 10/15/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">514,800</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,370,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Impress Holdings BV, 7.383% due 9/15/2013 (a)(c)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,260,400</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,020,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Pregis Corp., 12.375% due 10/15/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,030,100</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">6,464,362</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Diversified Financial</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,800,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Ford Motor Credit Co., 7.375% due 2/01/2011 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,557,313</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Services - 1.7%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">565,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Ford Motor Credit Co. LLC, 7.127% due 1/13/2012 (a)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">475,924</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">60,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Ford Motor Credit Co. LLC, 8.708% due 4/15/2012 (a)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">58,656</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,665,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Ford Motor Credit Co. LLC, 7.80% due 6/01/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,474,734</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,735,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">General Motors Acceptance Corp., 6.875%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 8/28/2012 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,322,149</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,409,688</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Structured Asset Repackaged Trust, 5.806%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 1/21/2010</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,365,591</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">11,254,367</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Diversified Telecommunication</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,420,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Cincinnati Bell, Inc., 7.25% due 7/15/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,420,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Services - 3.0%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Deutsche Telekom International Finance BV, 8%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 6/15/2010 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,391,275</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,364,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Qwest Communications International, Inc., 6.565%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 2/15/2009 (a)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,357,180</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,595,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Qwest Communications International, Inc., 7.50%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 2/15/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,559,050</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Qwest Corp., 8.241% due 6/15/2013 (a)(m)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,437,500</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Wind Acquisition Finance SA, 10.75%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 12/01/2015 (c)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,590,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,340,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Windstream Corp., 8.125% due 8/01/2013 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,398,500</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,060,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Windstream Corp., 8.625% due 8/01/2016</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,097,100</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">19,250,605</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Electric Utilities - 0.8%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">590,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Edison Mission Energy, 7.50% due 6/15/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">603,275</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">151,376</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Elwood Energy LLC, 8.159% due 7/05/2026 (k)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">149,431</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,324,265</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Midwest Generation LLC Series B, 8.56%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 1/02/2016 (k)(m)</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,653,990</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,406,696</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Electrical Equipment - 0.5%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,765,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Superior Essex Communications LLC, 9%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">due 4/15/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,539,100</FONT>  </TD>
</TR>
</TABLE>
<P align="center">
<FONT size=2 face="sans-serif">14</FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE><BR>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of January 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(in U.S. dollars)</FONT></B> </div></TD>
</TR>
</TABLE>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<B><FONT size=2 face="serif">Face</FONT></B>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>&nbsp;  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Industry</FONT></B>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Corporate
    Bonds</FONT></B></TD>
  <TD width=1% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=left nowrap style="border-bottom:1px solid #000000;"> <div align="center"><B><FONT size=2 face="serif">Value</FONT></B> </div></TD>
</TR>

<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Electronic Equipment &amp;</FONT></B>  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">USD</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">315,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Sanmina-SCI Corp., 6.75% due 3/01/2013</FONT>  </TD>
  <TD width="1%" align=left nowrap><FONT size=2 face="serif">&#36;</font></TD>
  <TD align=right nowrap>
<FONT size=2 face="serif"> 272,475</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Instruments - 0.4%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,560,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Sanmina-SCI Corp., 8.125% due 3/01/2016 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,233,600</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,506,075</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap colspan=2>
<B><FONT size=2 face="serif">Energy Equipment &amp; Services - 0.4%</FONT></B>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">255,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Compagnie Generale de Geophysique-Veritas, 7.50%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 5/15/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">251,175</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">420,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Compagnie Generale de Geophysique-Veritas, 7.75%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 5/15/2017</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">415,800</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">380,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Grant Prideco, Inc. Series B, 6.125% due 8/15/2015 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">388,550</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">270,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">North American Energy Partners, Inc., 8.75%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 12/01/2011</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">263,250</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,240,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">SemGroup LP, 8.75% due 11/15/2015 (c)</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,159,400</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,478,175</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Food &amp; Staples Retailing - 1.2%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Rite Aid Corp., 8.125% due 5/01/2010 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,818,750</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,440,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Rite Aid Corp., 7.50% due 3/01/2017 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,949,800</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">7,768,550</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Gas Utilities - 0.2%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">400,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">El Paso Natural Gas Co., 8.375% due 6/15/2032</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">466,326</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">725,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Targa Resources, Inc., 8.50% due 11/01/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">683,312</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,149,638</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Health Care Equipment &amp;</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">670,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Biomet, Inc., 11.625% due 10/15/2017 (c)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">654,088</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Supplies - 1.7%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">LVB Acquisition Merger Sub, Inc., 10%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 10/15/2017 (c)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">515,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">LVB Acquisition Merger Sub, Inc., 10.375%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 10/15/2017 (c)(j)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">479,186</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Norcross Safety Products LLC Series B, 9.875%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 8/15/2011</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,090,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">6,420,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">ReAble Therapeutics Finance LLC, 10.875%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 11/15/2014 (c)</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">6,099,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">10,837,274</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Health Care Providers &amp;</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,985,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Tenet Healthcare Corp., 6.50% due 6/01/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,741,837</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Services - 0.7%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,948,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Viant Holdings, Inc., 10.125% due 7/15/2017 (c)</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,476,320</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,218,157</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Hotels, Restaurants &amp;</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,860,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">American Real Estate Partners LP, 8.125%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Leisure - 2.5%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 6/01/2012 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,742,800</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,480,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">American Real Estate Partners LP, 7.125%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 2/15/2013 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,372,700</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,430,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Greektown Holdings, LLC, 10.75% due 12/01/2013 (c)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,365,650</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,695,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Harrah's Operating Co., Inc., 10.75% due 2/01/2016 (c)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,153,975</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,790,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Harrah's Operating Co., Inc., 10.75% due 2/01/2018 (c)(j)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,521,500</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,350,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Tropicana Entertainment LLC Series WI, 9.625%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 12/15/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">816,750</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">220,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Universal City Florida Holding Co. I, 7.989%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 5/01/2010 (a)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">212,300</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">100,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Wynn Las Vegas LLC, 6.625% due 12/01/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">96,375</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">16,282,050</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Household Durables - 0.4%</FONT></B>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,000,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">DR Horton, Inc., 5.875% due 7/01/2013 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,730,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">IT Services - 1.0%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">950,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">iPayment, Inc., 9.75% due 5/15/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">878,750</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,953,423</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">iPayment Investors LP, 12.75% due 7/15/2014 (c)(j)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,865,639</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">790,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">SunGard Data Systems, Inc., 9.125% due 8/15/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">801,850</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">642,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">SunGard Data Systems, Inc., 10.25% due 8/15/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">642,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">6,188,239</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap colspan=2>
<B><FONT size=2 face="serif">Independent Power Producers &amp;</FONT></B>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,428,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">The AES Corp., 8.75% due 5/15/2013 (c)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,582,260</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Energy Traders - 0.9%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">210,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">NRG Energy, Inc., 7.25% due 2/01/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">204,487</FONT>  </TD>
</TR>
</TABLE>
<P align="center">
<FONT size=2 face="sans-serif">15</FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE><BR>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of January 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(in U.S. dollars)</FONT></B> </div></TD>
</TR>
</TABLE>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<B><FONT size=2 face="serif">Face</FONT></B>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>&nbsp;  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Industry</FONT></B>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Corporate
    Bonds</FONT></B></TD>
  <TD width=1% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=left nowrap style="border-bottom:1px solid #000000;"> <div align="center"><B><FONT size=2 face="serif">Value</FONT></B> </div></TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">USD</FONT>  </TD>
<TD align=right nowrap>
<FONT size=2 face="serif">1,185,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">NRG Energy, Inc., 7.375% due 2/01/2016</FONT>  </TD>
  <TD width="1%" align=left nowrap><FONT size=2 face="serif">&#36;</font></TD>
  <TD align=right nowrap>
<FONT size=2 face="serif"> 1,145,006</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">580,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Orion Power Holdings, Inc., 12% due 5/01/2010</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">630,750</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,562,503</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Leisure Equipment &amp; Products - 0.1%</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">575,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Quiksilver, Inc., 6.875% due 4/15/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">445,625</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Machinery - 1.5%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,700,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">AGY Holding Corp., 11% due 11/15/2014 (c)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,598,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">850,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Accuride Corp., 8.50% due 2/01/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">671,500</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">RBS Global, Inc., 9.50% due 8/01/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,805,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,430,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">RBS Global, Inc., 11.75% due 8/01/2016</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,215,500</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,125,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Sunstate Equipment Co. LLC, 10.50% due 4/01/2013 (c)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,562,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Terex Corp., 8% due 11/15/2017</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,965,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">9,817,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Marine - 0.2%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,225,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Navios Maritime Holdings, Inc., 9.50%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">due 12/15/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,176,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Media - 10.6%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,975,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Affinion Group, Inc., 10.125% due 10/15/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,955,250</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">850,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Affinion Group, Inc., 11.50% due 10/15/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">786,250</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">420,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">American Media Operations, Inc. Series B, 10.25%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 5/01/2009</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">312,900</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,425,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">CMP Susquehanna Corp., 9.875% due 5/15/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,673,250</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">800,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Cablevision Systems Corp. Series B, 9.644%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 4/01/2009 (a)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">800,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,415,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Charter Communications Holdings I, LLC, 11%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 10/01/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,729,744</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,895,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Charter Communications Holdings II, LLC, 10.25%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 9/15/2010</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,738,687</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">6,685,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Comcast Cable Communications LLC, 6.875%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 6/15/2009 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">6,922,578</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,650,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Dex Media West LLC, 9.875% due 8/15/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,683,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">DirecTV Holdings LLC, 8.375% due 3/15/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">516,875</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,800,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Echostar DBS Corp., 5.75% due 10/01/2008</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,800,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,330,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Echostar DBS Corp., 7% due 10/01/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,333,325</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">200,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Echostar DBS Corp., 7.125% due 2/01/2016</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">199,750</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,525,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Idearc, Inc., 8% due 11/15/2016</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,259,875</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,815,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Intelsat Bermuda Ltd., 10.829% due 6/15/2013 (a)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,878,337</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">345,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Intelsat Bermuda Ltd., 7.581% due 1/15/2015 (a)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">345,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,800,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Intelsat Bermuda Ltd., 9.25% due 6/15/2016</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,795,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,495,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Intelsat Corp., 9% due 6/15/2016</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,476,288</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,340,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Intelsat Subsidiary Holding Co. Ltd., 8.625%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 1/15/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,334,975</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,520,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Network Communications, Inc., 10.75%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 12/01/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,402,200</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,340,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Nielsen Finance LLC, 10% due 8/01/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,383,400</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,841,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">PanAmSat Corp., 9% due 8/15/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,827,192</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Paxson Communications Corp., 7.508%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 1/15/2012 (a)(c)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,800,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,287,252</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">ProtoStar I Ltd., 12.50% due 10/15/2012 (a)(b)(c)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,451,615</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,465,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">R.H. Donnelley Corp. Series A-3, 8.875%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 1/15/2016</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,971,237</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">925,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Rainbow National Services LLC, 8.75%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 9/01/2012 (c)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">935,406</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,134,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Rainbow National Services LLC, 10.375%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 9/01/2014 (c)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,329,875</FONT>  </TD>
</TR>
</TABLE>
<P align="center">
<FONT size=2 face="sans-serif">16</FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE><BR>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of January 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(in U.S. dollars)</FONT></B> </div></TD>
</TR>
</TABLE>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<B><FONT size=2 face="serif">Face</FONT></B>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>&nbsp;  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Industry</FONT></B>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Corporate
    Bonds</FONT></B></TD>
  <TD width=1% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=left nowrap style="border-bottom:1px solid #000000;"> <div align="center"><B><FONT size=2 face="serif">Value</FONT></B> </div></TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">USD</FONT>  </TD>
<TD align=right nowrap>
<FONT size=2 face="serif">2,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Salem Communications Corp., 7.75% due 12/15/2010</FONT>  </TD>
  <TD width="1%" align=left nowrap><FONT size=2 face="serif">&#36;</font></TD>
  <TD align=right nowrap>
<FONT size=2 face="serif"> 1,977,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">460,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Sinclair Broadcast Group, Inc. Class A, 4.875%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 7/15/2018 (b)(n)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">414,575</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">185,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Sirius Satellite Radio, Inc., 9.625% due 8/01/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">158,175</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">TL Acquisitions, Inc., 10.50% due 1/15/2015 (c)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,095,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,390,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Vertis, Inc., 9.75% due 4/01/2009</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,043,450</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,575,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Windstream Regatta Holdings, Inc., 11%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 12/01/2017 (c)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,433,250</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,342,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Young Broadcasting, Inc., 10% due 3/01/2011</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,234,790</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">67,999,249</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Metals &amp; Mining - 1.2%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,200,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">AK Steel Corp., 7.75% due 6/15/2012 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,189,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,915,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Freeport-McMoRan Copper &amp; Gold, Inc., 8.394%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 4/01/2015 (a)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,879,094</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,670,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Freeport-McMoRan Copper &amp; Gold, Inc., 8.375%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 4/01/2017 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,899,375</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">7,967,469</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Multiline Retail - 0.7%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,400,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">JC Penny Corp. Inc., 8% due 3/01/2010 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,623,815</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">73,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Neiman Marcus Group, Inc., 9% due 10/15/2015 (j)</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">72,764</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,696,579</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Oil, Gas &amp; Consumable Fuels - 1.8%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">550,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Berry Petroleum Co., 8.25% due 11/01/2016</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">558,250</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,210,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Chaparral Energy, Inc., 8.50% due 12/01/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,010,350</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">650,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Chesapeake Energy Corp., 6.375% due 6/15/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">630,500</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">100,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Chesapeake Energy Corp., 6.875% due 11/15/2020</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">96,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">700,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Compton Petroleum Finance Corp., 7.625%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 12/01/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">647,500</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">495,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">EXCO Resources, Inc., 7.25% due 1/15/2011</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">472,725</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,599,518</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">East Cameron Gas Co., 11.25% due 7/09/2019</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,167,648</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">250,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Encore Acquisition Co., 6% due 7/15/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">225,625</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">200,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Encore Acquisition Co., 7.25% due 12/01/2017</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">192,500</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">70,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">KCS Energy, Inc., 7.125% due 4/01/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">66,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,990,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">OPTI Canada, Inc., 8.25% due 12/15/2014 (c)(m)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,950,200</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,650,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Overseas Shipholding Group, Inc., 8.75%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 12/01/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,724,250</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,515,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Sabine Pass LNG LP, 7.50% due 11/30/2016</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,420,312</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">160,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Whiting Petroleum Corp., 7.25% due 5/01/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">158,400</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,390,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Whiting Petroleum Corp., 7.25% due 5/01/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,369,150</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">11,690,410</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Paper &amp; Forest Products - 0.6%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,215,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Abitibi-Consolidated, Inc., 6% due 6/20/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">826,200</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">670,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Bowater, Inc., 7.991% due 3/15/2010 (a)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">529,300</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">140,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Domtar Corp., 7.875% due 10/15/2011</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">142,100</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">300,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Domtar Corp., 7.125% due 8/15/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">288,750</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">NewPage Corp., 9.489% due 5/01/2012 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,470,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">665,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">NewPage Corp., 10% due 5/01/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">661,675</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">200,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">NewPage Corp., 12% due 5/01/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">198,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,116,025</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Real Estate Investment Trusts</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Rouse Co. LP, 5.375% due 11/26/2013 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,759,010</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">(REITs) - 0.3%</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Road &amp; Rail - 0.1%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">130,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Avis Budget Car Rental LLC, 5.565% due 5/15/2014 (a)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">110,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">318,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Britannia Bulk Plc, 11% due 12/01/2011</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">317,205</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">427,705</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Semiconductors &amp; Semiconductor</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,063,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Amkor Technology, Inc., 7.75% due 5/15/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,846,385</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Equipment - 0.7%</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">490,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Amkor Technology, Inc., 9.25% due 6/01/2016</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">461,212</FONT>  </TD>
</TR>
</TABLE>
<P align="center">
<FONT size=2 face="sans-serif">17</FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE><BR>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of January 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(in U.S. dollars)</FONT></B> </div></TD>
</TR>
</TABLE>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD width=10% align=right nowrap>
<B><FONT size=2 face="serif">Face</FONT></B>  </TD>
  <TD width=5%>&nbsp;  </TD>
  <TD width=45% align=left nowrap>&nbsp;  </TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Industry</FONT></B>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=10% align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD width=5% style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=45% align=left nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Corporate
    Bonds</FONT></B></TD>
  <TD width=1% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=left nowrap style="border-bottom:1px solid #000000;"> <div align="center"><B><FONT size=2 face="serif">Value</FONT></B> </div></TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">USD</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,015,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Freescale Semiconductor, Inc., 9.125%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 12/15/2014 (j)</FONT>  </TD>
  <TD width="1%" align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">&#36;</FONT></TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
 <FONT size=2 face="serif">2,283,862</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,591,459</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Software - 0.1%</FONT></B>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">839,252</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">BMS Holdings, Inc., 12.40% due 2/15/2012 (a)(c)(j)</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">772,275</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Specialty Retail - 2.8%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">690,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Autonation, Inc., 6.258% due 4/15/2013 (a)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">577,875</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">690,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Autonation, Inc., 7% due 4/15/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">614,100</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,250,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">General Nutrition Centers, Inc., 10.009%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 3/15/2014 (j)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,845,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,880,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">General Nutrition Centers, Inc., 10.75% due 3/15/2015</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,513,400</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Group 1 Automotive, Inc., 8.25% due 8/15/2013 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,700,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,475,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Lazy Days' R.V. Center, Inc., 11.75% due 5/15/2012</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,150,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,210,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Michaels Stores, Inc., 10% due 11/01/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,966,900</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,570,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Michaels Stores, Inc., 11.375% due 11/01/2016</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,081,700</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Sonic Automotive, Inc. Series B, 8.625%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 8/15/2013</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,290,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">17,739,475</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Tobacco - 0.2%</FONT></B>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,000,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Reynolds American, Inc., 7.625% due 6/01/2016 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,059,054</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Wireless Telecommunication</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">270,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Cricket Communications, Inc., 9.375% due 11/01/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">245,700</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Services - 1.2%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,120,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Digicel Group Ltd., 8.875% due 1/15/2015 (c)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">988,400</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,597,019</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Digicel Group Ltd., 9.125% due 1/15/2015 (c)(j)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,251,585</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">500,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">MetroPCS Wireless, Inc., 9.25% due 11/01/2014</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">460,000</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,850,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Nordic Telephone Co. Holdings ApS, 8.875%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 5/01/2016 (c)(m)</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,907,750</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">7,853,435</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Total Corporate Bonds</FONT></B>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">(Cost - &#36;320,736,571) - 46.7%</FONT></B>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">301,073,520</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Foreign Government Obligations</FONT></B>  </TD>
  <TD width="1%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,000,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Colombia Government International Bond, 9.75%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 4/23/2009 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,325,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,871,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Peru Government International Bond, 8.375%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">due 5/03/2016 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,806,232</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,093,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Turkey Government International Bond, 7%</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">due 9/26/2016 (m)</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,411,312</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Total Foreign Government Obligations</FONT></B>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">(Cost - &#36;15,850,713) - 2.6%</FONT></B>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">16,542,544</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<B><FONT size=2 face="serif">Shares</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Held</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Common Stocks</FONT></B>  </TD>
  <TD width="1%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Capital Markets - 0.1%</FONT></B>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">121,011</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">E*Trade Financial Corp. (d)</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">601,425</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Total Common Stocks (Cost - &#36;0) - 0.1%</FONT></B>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">601,425</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Preferred
    Stocks</FONT></B></TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Capital Markets - 0.0%</FONT></B>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">177</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Marsico Parent Superholdco, LLC, 16.75% (c)</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">167,721</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Electrical Equipment - 0.0%</FONT></B>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">125,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Superior Essex Holding Corp. Series A, 9.50%</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">93,750</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Total Preferred Stocks (Cost - &#36;286,886) - 0.0%</FONT></B>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">261,471</FONT>  </TD>
</TR>
</TABLE>
<P align="center">
<FONT size=2 face="sans-serif">18</FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE><BR>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of January 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(in U.S. dollars)</FONT></B> </div></TD>
</TR>
</TABLE>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=25% align=left nowrap>&nbsp;  </TD>
  <TD width=5% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap><B><FONT size=2 face="serif">Shares</FONT></B> </TD>
  <TD>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD width=1% align=left nowrap>&nbsp;</TD>
  <TD width=9% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Industry</FONT></B>  </TD>
  <TD width=5% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Held</FONT></B> </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Warrants
        (f)</FONT></B> </TD>
  <TD width=1% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=9% align=left nowrap style="border-bottom:1px solid #000000;"> <div align="center"><B><FONT size=2 face="serif">Value</FONT></B> </div></TD>
</TR>

<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Electric Utilities - 0.0%</FONT></B>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,839</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Reliant Resources (expires 10/25/2008)</FONT>  </TD>
  <TD width="1%" align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">&#36;</FONT></TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
 <FONT size=2 face="serif">34,941</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Total Warrants (Cost - &#36;0) - 0.0%</FONT></B>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">34,941</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<B><FONT size=2 face="serif">Beneficial</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Interest</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Other Interests (g)</FONT></B>  </TD>
  <TD width="1%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Health Care Providers &amp;</FONT></B>  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">USD</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">7,579</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Critical Care Systems International, Inc.</FONT>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,547</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Services - 0.0%</FONT></B>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Total Other Interests (Cost - &#36;0) - 0.0%</FONT></B>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,547</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<B><FONT size=2 face="serif">Face</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Short-Term Securities</FONT></B>  </TD>
  <TD width="1%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">USD</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,300,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Federal Home Loan Bank, 1.35% due 2/01/2008</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,300,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Total Short-Term Securities</FONT></B>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">(Cost - &#36;1,300,000) - 0.2%</FONT></B>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,300,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<B><FONT size=2 face="serif">Number of</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Contracts</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Options Purchased</FONT></B>  </TD>
  <TD width="1%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Call Options Purchased</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">-**</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Marsico Parent Superholdco LLC, expiring</FONT>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">December 2009 at USD 942.86</FONT>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">45,203</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Total Options Purchased</FONT></B>  </TD>
  <TD width="1%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">(Premiums Paid - &#36;44,978) - 0.0%</FONT></B>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">45,203</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Total Investments (Cost - &#36;958,781,899*) - 140.0%</FONT></B>  </TD>
  <TD width="1%" align=right nowrap>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">901,733,373</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Liabilities in Excess of Other Assets - (40.0%)</FONT></B>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">(257,765,456)</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Net Assets - 100.0%</FONT></B>  </TD>
  <TD width="1%" align=right nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:3px double #000000;">
<FONT size=2 face="serif">&#36; 643,967,917</FONT>  </TD>
</TR>
</TABLE>

<P align="left">&nbsp;</P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
  <TD width="3%" valign=top nowrap><FONT size=2 face="serif">+</FONT></TD>
  <TD>
    <FONT size=2 face="serif">Asset-Backed and Mortgage-Backed Securities are
    subject to principal paydowns. As a result of
    the prepayments or refinancings of the underlying instruments, the average
    life may be substantially less than the original
    maturity.</FONT>
  </TD>
</TR>
<TR>
  <TD width="3%" valign=top nowrap><FONT size=2 face="serif">++</FONT></TD>
  <TD><FONT size=2 face="serif">Floating rate corporate debt in which the Trust
      invests generally pay interest at rates that are periodically</FONT> <FONT size=2 face="serif">determined
      by reference to a base lending rate plus a premium. These base lending
      rates are generally (i) the</FONT> <FONT size=2 face="serif">lending rate
      offered by one or more major European banks, such as LIBOR (London InterBank
      Offered Rate), (ii)</FONT> <FONT size=2 face="serif">the prime rate offered
    by one or more major U.S. banks or (iii) the certificate of deposit rate.</FONT></TD>
</TR>
<TR>
  <TD width="3%" valign=top nowrap>
<FONT size=2 face="serif">*</FONT>&nbsp; &nbsp; &nbsp;   </TD>
  <TD width=100%>
<P align="left"><FONT size=2 face="serif">The cost and unrealized appreciation (depreciation) of investments as of January 31, 2008, as computed for federal income tax purposes, were as follows:</FONT></P>  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
<TABLE width="35%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width="10%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Aggregate cost</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
  <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">958,908,868</FONT> </TD>
  <TD>&nbsp;  </TD>
  <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="10%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Gross unrealized appreciation</FONT>  </TD>
  <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
  <TD align=right nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">5,797,358</FONT> </TD>
  <TD>&nbsp;  </TD>
  <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="10%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Gross unrealized depreciation</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(62,972,853</FONT> </TD>
  <TD valign=middle><FONT size=2 face="serif">)</FONT> </TD>
  <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="10%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Net unrealized depreciation</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
  <TD valign=middle align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">(57,175,495</FONT> </TD>
  <TD><FONT size=2 face="serif">)</FONT> </TD>
  <TD>&nbsp;</TD>
</TR>
</TABLE>

<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
  <TD width="3%" valign=top nowrap>&nbsp;</TD>
  <TD width="97%">&nbsp;</TD>
</TR>
<TR>
  <TD width="3%" valign=top nowrap><FONT size=2 face="serif">**</FONT></TD>
  <TD width="97%" valign="top"><FONT size=2 face="serif">Amount is less than 1 contract.</FONT></TD>
</TR>
<TR>
  <TD width="3%" valign=top nowrap>
<FONT size=2 face="serif">(a)</FONT>&nbsp; &nbsp; &nbsp;   </TD>
  <TD width=97% valign="top">
<P align="left"><FONT size=2 face="serif">Floating rate security.</FONT></P>  </TD>
</TR>
<TR>
  <TD width="3%" valign=top nowrap>
<FONT size=2 face="serif">(b)</FONT>&nbsp; &nbsp; &nbsp;   </TD>
  <TD width=97% valign="top">
<P align="left"><FONT size=2 face="serif">Convertible security.</FONT></P>  </TD>
</TR>
<TR>
  <TD width="3%" valign=top nowrap>
<FONT size=2 face="serif">(c)</FONT>&nbsp; &nbsp; &nbsp;   </TD>
  <TD width=97% valign="top">
<P align="left"><FONT size=2 face="serif">The security may be offered and sold to "qualified institutional buyers" under Rule 144A of the Securities Act of 1933.</FONT></P>  </TD>
</TR>
<TR>
  <TD width="3%" valign=top nowrap>
<FONT size=2 face="serif">(d)</FONT>&nbsp; &nbsp; &nbsp;   </TD>
  <TD width=97% valign="top">
<P align="left"><FONT size=2 face="serif">Non-income producing security.</FONT></P>  </TD>
</TR>
<TR>
  <TD width="3%" valign=top nowrap>
<FONT size=2 face="serif">(e)</FONT>&nbsp; &nbsp; &nbsp;   </TD>
  <TD width=97% valign="top">
<P align="left"><FONT size=2 face="serif">Non-income producing security; issuer filed for bankruptcy or is in default of interest payments.</FONT></P>  </TD>
</TR>
<TR>
  <TD width="3%" valign=top nowrap>
<FONT size=2 face="serif">(f)</FONT>&nbsp; &nbsp; &nbsp;   </TD>
  <TD width=97% valign="top">
<P align="left"><FONT size=2 face="serif">Warrants entitle the Trust to purchase a predetermined number of shares of common stock and are non-income producing. The purchase price and number of shares are subject to adjustment under certain
conditions until the expiration date.</FONT></P>  </TD>
</TR>
<TR>
  <TD width="3%" valign=top nowrap>
<FONT size=2 face="serif">(g)</FONT>&nbsp; &nbsp; &nbsp;   </TD>
  <TD width=97% valign="top">
<P align="left"><FONT size=2 face="serif">Other interests represent beneficial interest in liquidation trusts and other reorganization entities and are non- income producing.</FONT></P>  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
<P align="center">
<FONT size=2 face="sans-serif">19</FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE><BR>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of January 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(in U.S. dollars)</FONT></B> </div></TD>
</TR>
</TABLE>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
  <TD colspan="2" valign=top nowrap><p><font size=1>&nbsp;</font></p>    </TD>
  </TR>
<TR>
  <TD width="3%" valign=top nowrap>
<FONT size=2 face="serif">(h)</FONT>&nbsp; &nbsp; &nbsp;   </TD>
  <TD>
<P align="left"><FONT size=2 face="serif">Represents or includes a "to-be-announced" transaction. The Trust has committed to purchasing securities for which all specific information is not available at this time.</FONT></P>  </TD>
</TR>
<TR>
  <TD width="3%" valign=top nowrap>
<FONT size=2 face="serif">(i)</FONT>&nbsp; &nbsp; &nbsp;   </TD>
  <TD>
<P align="left"><FONT size=2 face="serif">Represents the interest only portion of an asset-backed security and has either a nominal or notional amount of principal.</FONT></P>  </TD>
</TR>
<TR>
  <TD width="3%" valign=top nowrap>
<FONT size=2 face="serif">(j)</FONT>&nbsp; &nbsp; &nbsp;   </TD>
  <TD>
<P align="left"><FONT size=2 face="serif">Represents a pay-in-kind security which may pay interest/dividends in additional face/shares.</FONT></P>  </TD>
</TR>
<TR>
  <TD width="3%" valign=top nowrap>
<FONT size=2 face="serif">(k)</FONT>&nbsp; &nbsp; &nbsp;   </TD>
  <TD>
<P align="left"><FONT size=2 face="serif">Subject to principal paydowns.</FONT></P>  </TD>
</TR>
<TR>
  <TD width="3%" valign=top nowrap>
<FONT size=2 face="serif">(l)</FONT>&nbsp; &nbsp; &nbsp;   </TD>
  <TD>
<P align="left"><FONT size=2 face="serif">All or portion of security held as collateral in connection with open financial futures contracts.</FONT></P>  </TD>
</TR>
<TR>
  <TD width="3%" valign=top nowrap>
<FONT size=2 face="serif">(m)</FONT>&nbsp; &nbsp; &nbsp;   </TD>
  <TD>
<P align="left"><FONT size=2 face="serif">All or a portion of security held as collateral in connection with reverse repurchase agreements. Reverse repurchase agreements outstanding as of January 31, 2008 were as follows:</FONT></P>  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD colspan="13" align=left nowrap><div style="border-bottom:1px solid #000000">
      <p><font size=1>&nbsp;</font></p>
      </div></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Interest</FONT></B> </TD>
    <TD width="6%">&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD colspan="2" align=center nowrap><B><FONT size=2 face="serif">Net Closing</FONT></B> </TD>
    <TD width="6%">&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Counterparty</FONT></B> </TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Rate</FONT></B> </TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Trade
          Date</FONT></B> </TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Maturity
          Date</FONT></B> </TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD colspan="2" align=center nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Amount</FONT></B> </TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap colspan=2 style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Face
          Amount</FONT></B> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">Barclays Capital, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="6%" align=center nowrap><FONT size=2 face="serif">4.86024%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="6%" align=center nowrap><FONT size=2 face="serif">5/01/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="6%" align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD width="6%" align=right nowrap><FONT size=2 face="serif">4,896,159</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD width="6%" align=right nowrap><FONT size=2 face="serif">4,709,751</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Barclays Capital, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5.00547%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5/01/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">5,075,554</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">4,876,875</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">Barclays Capital, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5.01202%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5/01/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">4,841,636</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">4,651,875</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Barclays Capital, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5.01202%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5/01/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">4,571,160</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">4,392,000</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">Barclays Capital, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5.01208%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5/01/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">4,958,727</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">4,764,375</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Barclays Capital, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5.01373%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5/01/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">3,136,885</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">3,013,900</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">Barclays Capital, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">4.97704%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5/17/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">3,134,614</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">3,019,000</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Barclays Capital, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">4.88881%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">11/13/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">782,191</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">759,000</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">Credit Suisse Securities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">(USA) LLC</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">4.80%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">11/13/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,262,601</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,238,721</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Credit Suisse Securities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">(USA) LLC</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">4.80%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">11/13/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">7,428,307</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">7,349,908</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">Credit Suisse Securities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">(USA) LLC</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">4.80%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">11/13/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">4,603,210</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">4,554,628</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Credit Suisse Securities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">(USA) LLC</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">4.80%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">11/13/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,643,937</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,616,033</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">Credit Suisse Securities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">(USA) LLC</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">4.80%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">11/13/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">5,445,909</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">5,388,432</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Credit Suisse Securities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">(USA) LLC</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">4.90%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">11/13/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,279,065</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,254,516</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">Credit Suisse Securities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">(USA) LLC</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">4.90%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">11/13/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,447,631</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,432,037</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Credit Suisse Securities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">(USA) LLC</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">4.90%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">11/13/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,750,661</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,731,803</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">Credit Suisse Securities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">(USA) LLC</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">4.90%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">11/13/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">5,291,882</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">5,234,880</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Credit Suisse Securities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">(USA) LLC</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">4.90%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">11/13/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,471,487</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,455,637</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">Credit Suisse Securities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">(USA) LLC</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">4.68%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">12/05/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">11,761,266</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif"> 11,673,250</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Credit Suisse Securities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">(USA) LLC</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">4.50%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">12/11/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">3,799,940</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">3,775,400</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">Credit Suisse Securities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">(USA) LLC</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">3.29%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">1/29/08</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">2/12/08</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,476,752</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,475,000</FONT> </TD>
  </TR>
</TABLE>
<P align="center">
<FONT size=2 face="sans-serif">20</FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE><BR>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Limited Duration Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of January 31, 2008 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(in U.S. dollars)</FONT></B> </div></TD>
</TR>
</TABLE>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Interest</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align=center nowrap><B><FONT size=2 face="serif">Net Closing</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Counterparty</FONT></B> </TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Rate</FONT></B> </TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Trade
          Date</FONT></B> </TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Maturity
          Date</FONT></B> </TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD colspan="2" align=center nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Amount</FONT></B> </TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap colspan=2 style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Face
          Amount</FONT></B> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">Lehman Brothers, Inc.</FONT> </TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="6%" align=center nowrap><FONT size=2 face="serif">1.50%</FONT> </TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="6%" align=center nowrap><FONT size=2 face="serif">9/06/06</FONT> </TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="6%" align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%" align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD width="6%" align=right nowrap><FONT size=2 face="serif">906,981</FONT> </TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%" align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD width="6%" align=right nowrap><FONT size=2 face="serif">888,000</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Lehman Brothers, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5.50%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">11/27/06</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">355,942</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">334,000</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">Lehman Brothers, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5.18%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">1/09/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">3,534,850</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">3,347,938</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Lehman Brothers, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">3.25%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">1/09/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,477,958</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,384,000</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">Lehman Brothers, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5.22%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">1/11/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">17,522,736</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">16,596,250</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Lehman Brothers, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5.15%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">2/12/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,873,544</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,783,238</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">Lehman Brothers, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5.25%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">2/28/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">721,912</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">688,000</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Lehman Brothers, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5.25%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">2/28/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">5,492,587</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">5,235,294</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">Lehman Brothers, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">4.30%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">12/12/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">3,275,834</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">3,256,000</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Lehman Brothers, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">4.75%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">12/14/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,995,690</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,983,650</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">Lehman Brothers, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5.00%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">12/14/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,164,632</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,150,000</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Lehman Brothers, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5.00%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">12/14/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">5,218,273</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">5,183,000</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">Lehman Brothers, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5.25%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">12/18/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">679,430</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">675,000</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Lehman Brothers, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5.00%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">12/21/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">608,328</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">604,800</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">Lehman Brothers, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5.00%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">12/21/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,994,039</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,982,475</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Lehman Brothers, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5.00%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">12/24/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,429,703</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,422,000</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6E6E6">
    <TD align=left nowrap><FONT size=2 face="serif">Lehman Brothers, Inc.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">5.00%</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">12/26/07</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">3,631,355</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">3,612,789</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">Lehman
        Brothers, Inc.</FONT> </TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">5.00%</FONT> </TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">12/27/07</FONT> </TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">TBD</FONT> </TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">1,699,872</FONT> </TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">1,691,415</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><B><FONT size=2 face="serif">Total</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">137,643,240</FONT> </TD>
    <TD style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">134,184,870</FONT></TD>
  </TR>
</TABLE>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="2%"><FONT size=2 face="serif">(n)</FONT></td>
    <td width="97%"><FONT size=2 face="serif">Represents a step bond.</FONT></td>
  </tr>
  <tr>
    <td width="2%">&#149; </td>
    <td width="97%"><FONT size=2 face="serif">Forward foreign exchange contracts as of January
    31, 2008 were as follows:</FONT></td>
  </tr>
  <tr>
    <td colspan="2"style="border-bottom:1px solid #000000"><p><font size=1>&nbsp;</font></p></td>
  </tr>
</table>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=2% align=left nowrap>&nbsp;</TD>
  <TD width=15% align=left nowrap>
<B><FONT size=2 face="serif">Foreign Currency</FONT></B>  </TD>
  <TD width=1%>&nbsp;  </TD>
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Foreign Currency</FONT></B>  </TD>
  <TD width=1%>&nbsp;  </TD>
  <TD width="6%" align=center nowrap>
<B><FONT size=2 face="serif">Settlement</FONT></B>  </TD>
  <TD width=6%>&nbsp;  </TD>
  <TD width=1% colspan="2" align=center nowrap>
    <B><FONT size=2 face="serif">Unrealized</FONT></B>  </TD>
  </TR>
<TR valign="bottom">
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=15% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Purchased</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Sold</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Date</FONT></B>  </TD>
  <TD width="6%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" colspan="2" align=center nowrap style="border-bottom:1px solid #000000;">
    <B><FONT size=2 face="serif">Depreciation</FONT></B>  </TD>
  </TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD width=2% align=left nowrap>&nbsp;</TD>
  <TD width=15% align=left nowrap>
<FONT size=2 face="serif">USD 28,117,220</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">EUR 19,179,550</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">4/23/2008</FONT>  </TD>
  <TD width="6%">&nbsp;  </TD>
  <TD width="1%" align=left nowrap>
<FONT size=2 face="serif">&#36;</FONT>  </TD>
  <TD width="6%" align=right nowrap>
<FONT size=2 face="serif">(321,357)</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=2% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD width=15% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">USD 10,207,084</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">GBP 5,195,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4/23/2008</FONT>  </TD>
  <TD width="6%" style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="1%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width="6%" align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">(68,854)</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="2%" align=left nowrap>&nbsp;</TD>
  <TD colspan=5 align=left nowrap><B><FONT size=2 face="serif">Total Unrealized Depreciation
    on Forward Foreign Exchange Contracts</FONT></B>     </TD>
  <TD width="6%">&nbsp;  </TD>
  <TD width="1%" align=left nowrap style="border-bottom:3px double #000000;">
<FONT size=2 face="serif">&#36;</FONT>  </TD>
  <TD width="6%" align=right nowrap style="border-bottom:3px double #000000;">
<FONT size=2 face="serif">(390,211)</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap colspan=9><p><font size=1>&nbsp;</font></p>    </TD>
  </TR>
<TR valign="bottom">
  <TD width="2%" align=left valign="top" nowrap>&#149; </TD>
  <TD colspan=8 align=left valign="top"><FONT size=2 face="serif">For Trust compliance
      purposes, the Trust's industry classifications refer to any one or more
      of the industry sub-classifications used
      by one or more widely recognized market indexes or ratings group indexes,
      and/or as defined by Trust management.
      This definition may not apply for purposes of this report, which may combine
      such industry sub-classifications for
    reporting ease. Industries are shown as a percent of net assets.</FONT></TD>
  </TR>
<TR valign="bottom">
  <TD width="2%" align=left valign="top" nowrap>&#149; </TD>
  <TD colspan=8 align=left valign="top" nowrap><FONT size=2 face="serif">Financial futures
    contracts sold as of January 31, 2008 were as follows:</FONT></TD>
</TR>
</TABLE>
<table width="100%" border=0 cellpadding=0 cellspacing=0>
  <tr valign="bottom">
    <td width="2%" align=left nowrap>&nbsp;</td>
    <td width="17%" align=left nowrap><b><font size=2 face="serif">Number of</font></b> </td>
    <td width="3%">&nbsp;</td>
    <td width="17%" align=left nowrap>&nbsp;</td>
    <td width="3%">&nbsp;</td>
    <td width="17%" align=center nowrap><b><font size=2 face="serif">Expiration</font></b> </td>
    <td width="3%">&nbsp;</td>
    <td width="17%" align=center nowrap><b><font size=2 face="serif">Face</font></b> </td>
    <td width="3%">&nbsp;</td>
    <td width="17%" align=center nowrap><b><font size=2 face="serif">Unrealized</font></b> </td>
  </tr>
  <tr valign="bottom">
    <td width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</td>
    <td align=left nowrap style="border-bottom:1px solid #000000;"><b><font size=2 face="serif">Contracts</font></b> </td>
    <td style="border-bottom:1px solid #000000;">&nbsp;</td>
    <td align=center nowrap style="border-bottom:1px solid #000000;"><b><font size=2 face="serif">Issue</font></b> </td>
    <td style="border-bottom:1px solid #000000;">&nbsp;</td>
    <td align=center nowrap style="border-bottom:1px solid #000000;"><b><font size=2 face="serif">Date</font></b> </td>
    <td style="border-bottom:1px solid #000000;">&nbsp;</td>
    <td align=center nowrap style="border-bottom:1px solid #000000;"><b><font size=2 face="serif">Value</font></b> </td>
    <td style="border-bottom:1px solid #000000;">&nbsp;</td>
    <td align=center nowrap style="border-bottom:1px solid #000000;"><b><font size=2 face="serif">Appreciation</font></b> </td>
  </tr>
  <tr valign="bottom">
    <td width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</td>
    <td align=center nowrap style="border-bottom:1px solid #000000;"><font size=2 face="serif">76</font> </td>
    <td style="border-bottom:1px solid #000000;">&nbsp;</td>
    <td align=center nowrap style="border-bottom:1px solid #000000;"><font size=2 face="serif">5-Year
        U.S. Treasury Bond</font> </td>
    <td style="border-bottom:1px solid #000000;">&nbsp;</td>
    <td align=center nowrap style="border-bottom:1px solid #000000;"><font size=2 face="serif">March
        2008</font> </td>
    <td style="border-bottom:1px solid #000000;">&nbsp;</td>
    <td align=center nowrap style="border-bottom:1px solid #000000;"><font size=2 face="serif">$8,396,386</font> </td>
    <td style="border-bottom:1px solid #000000;">&nbsp;</td>
    <td align=center nowrap style="border-bottom:1px solid #000000;"><font size=2 face="serif">$191,614</font> </td>
  </tr>
  <tr valign="bottom">
    <td width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&#149; </td>
    <td colspan="9" align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">Swaps
    outstanding as of January 31, 2008 were as follows:</FONT></td>
  </tr>
</table>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=2% align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD width=3%>&nbsp;  </TD>
  <TD width=17% align=center nowrap>
<B><FONT size=2 face="serif">Notional</FONT></B>  </TD>
  <TD width=3%>&nbsp;  </TD>
  <TD width=17% align=center nowrap>
<B><FONT size=2 face="serif">Unrealized</FONT></B>  </TD>
  </TR>
<TR valign="bottom">
  <TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Appreciation</FONT></B>  </TD>
  </TR>
<TR valign="bottom">
  <TD width="2%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Sold credit default protection on LCDX.NA.9.V1</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  </TR>
<TR valign="bottom">
  <TD width="2%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">and receive 2.25%</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  </TR>
<TR valign="bottom">
  <TD width="2%" align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">Broker, JPMorgan Chase</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  </TR>
<TR valign="bottom">
  <TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Expires December 2012</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">$3,500,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=center nowrap style="border-bottom:1px solid #000000;"><font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;-</font> </TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=2% align=left nowrap>&#149; </TD>
  <TD align=left nowrap><B><FONT size=2 face="serif">Currency Abbreviations</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD width=2% align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap><FONT size=2 face="serif">EUR Euro</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=2% align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap><FONT size=2 face="serif">GBP British Pound</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=2% align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap><FONT size=2 face="serif">USD U.S. Dollar</FONT>  </TD>
</TR>
<TR>
  <TD width="2%">&nbsp;</TD>
  <TD>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=2% align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap><FONT size=2 face="serif">TBD To be determined</FONT>  </TD>
</TR>
</TABLE>
<P align="center">
<FONT size=2 face="sans-serif">21</FONT></P>


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<P align="left" style="page-break-before:always"></P><PAGE><BR>

<P align="left">
<FONT size=2 face="serif">Item 2 &#150; Controls and Procedures</FONT></P>
<div style="margin-left:44px;text-indent:-44px">
<P align="left">
<FONT size=2 face="serif">2(a) &#150;&nbsp;&nbsp;&nbsp;&nbsp; The registrant&#146;s principal executive and principal financial officers or persons performing similar functions have concluded that the registrant&#146;s disclosure controls and procedures (as defined in Rule
30a-3(c) under the Investment Company Act of 1940, as amended (the &#147;1940 Act&#148;)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under
the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended. </FONT></P>
<P align="left">
<FONT size=2 face="serif">2(b) &#150;&nbsp;&nbsp;&nbsp;&nbsp; There were no changes in the registrant&#146;s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant&#146;s last fiscal quarter that have
materially affected, or are reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting. </FONT></P></div>
<P align="left">
<FONT size=2 face="serif">Item 3 &#150; Exhibits</FONT></P>
<div style="margin-left:44px">
<P align="left">
<FONT size=2 face="serif">Certifications &#150; Attached hereto</FONT></P>
<P align="left">
<FONT size=2 face="serif">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized. </FONT></P>
<P align="left">
<FONT size=2 face="serif">BlackRock Limited Duration Income Trust </FONT><BR>
</P>
<table border=0 cellspacing=0 cellpadding=0>
  <tr valign="bottom">
    <td align=left width=6% nowrap><font size=2 face="serif">By:</font>&nbsp;&nbsp;&nbsp;</td>
    <td align=left width=87% nowrap><div style="border-bottom:1px solid #000000;width:170px"><font size=2 face="serif">/s/
          Donald C. Burke </font></div></td>
  </tr>
  <tr valign="bottom">
    <td align=left width=6% nowrap>&nbsp;</td>
    <td align=left width=87% nowrap><FONT size=2 face="serif">Donald C. Burke </FONT></td>
  </tr>
  <tr valign="bottom">
    <td align=left width=6% nowrap>&nbsp;</td>
    <td align=left width=87% nowrap><FONT size=2 face="serif">Chief Executive
      Officer of </FONT></td>
  </tr>
  <tr valign="bottom">
    <td align=left width=6% nowrap>&nbsp;</td>
    <td align=left width=87% nowrap><FONT size=2 face="serif">BlackRock Limited
      Duration Income Trust</FONT></td>
  </tr>
</table>
<P align="left">
<FONT size=2 face="serif">Date: March 24, 2008</FONT></P>
<P align="left">
<FONT size=2 face="serif">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on
the dates indicated. </FONT></P>
<table border=0 cellspacing=0 cellpadding=0>
  <tr valign="bottom">
    <td align=left width=6% nowrap><font size=2 face="serif">By:</font>&nbsp;&nbsp;&nbsp;</td>
    <td align=left width=87% nowrap><div style="border-bottom:1px solid #000000;width:170px"><font size=2 face="serif">/s/
          Donald C. Burke</font></div></td>
  </tr>
  <tr valign="bottom">
    <td align=left width=6% nowrap>&nbsp;</td>
    <td align=left width=87% nowrap><FONT size=2 face="serif">Donald C. Burke</FONT></td>
  </tr>
  <tr valign="bottom">
    <td align=left width=6% nowrap>&nbsp;</td>
    <td align=left width=87% nowrap><FONT size=2 face="serif">Chief Executive
      Officer (principal executive officer) of</FONT></td>
  </tr>
  <tr valign="bottom">
    <td align=left width=6% nowrap>&nbsp;</td>
    <td align=left width=87% nowrap><FONT size=2 face="serif">BlackRock Limited
      Duration Income Trust </FONT></td>
  </tr>
</table>
<P align="left"><FONT size=2 face="serif">Date: March 24, 2008</FONT></P>
<table border=0 cellspacing=0 cellpadding=0>
  <tr valign="bottom">
    <td align=left width=6% nowrap><font size=2 face="serif">By:</font>&nbsp;&nbsp;&nbsp;</td>
    <td align=left width=87% nowrap><div style="border-bottom:1px solid #000000;width:170px"><font size=2 face="serif">/s/
          Neal J. Andrews</font></div></td>
  </tr>
  <tr valign="bottom">
    <td align=left width=6% nowrap>&nbsp;</td>
    <td align=left width=87% nowrap><FONT size=2 face="serif">Neal J. Andrews</FONT></td>
  </tr>
  <tr valign="bottom">
    <td align=left width=6% nowrap>&nbsp;</td>
    <td align=left width=87% nowrap><FONT size=2 face="serif">Chief Financial
      Officer (principal financial officer) of</FONT></td>
  </tr>
  <tr valign="bottom">
    <td align=left width=6% nowrap>&nbsp;</td>
    <td align=left width=87% nowrap><FONT size=2 face="serif">BlackRock Limited
      Duration Income Trust </FONT></td>
  </tr>
</table>
<P align="left"><FONT size=2 face="serif">Date: March 24, 2008</FONT></P>
</div>

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</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>c52581_ex99-cert.htm
<TEXT>

<HTML>
<HEAD>
   <TITLE>c52581_ex99-cert.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">


<B><FONT size=2 face="serif">EX-99. CERT<br>
</FONT></B>
<B><FONT size=2 face="serif">CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE
1940 ACT AND SECTION 302 OF <br>
THE SARBANES-OXLEY ACT OF 2002 </FONT></B><div style="border-bottom:1px solid #000000"> &nbsp;</div>

<P align="left">
<FONT size=2 face="serif">I, Donald C. Burke, Chief Executive Officer (principal executive officer) of BlackRock Limited Duration Income Trust, certify that: </FONT></P>
<P align="left">
<FONT size=2 face="serif">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I have reviewed this report on Form N-Q of BlackRock Limited Duration Income Trust; </FONT></P>
<P align="left">
<FONT size=2 face="serif">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based
on my knowledge, this report does not contain any untrue statement of a material
fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;</FONT></P>
<P align="left">
<FONT size=2 face="serif">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant
as of the end of the fiscal quarter for which the report is filed; </FONT></P>
<P align="left">
<FONT size=2 face="serif">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">The registrant&#146;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as
defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: </FONT></P>
<div style="margin-left:42px">
<P align="left">
<FONT size=2 face="serif">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure
that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; </FONT></P>
<P align="left">
<FONT size=2 face="serif">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our
supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; </FONT></P>
<P align="left">
<FONT size=2 face="serif">c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">evaluated the effectiveness of the registrant&#146;s disclosure controls and procedures and presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and </FONT></P>
<P align="left">
<FONT size=2 face="serif">d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">disclosed in this report any change in the registrant&#146;s internal control over financial reporting that occurred during the registrant&#146;s
most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting; and </FONT></P></div>
<P align="left">
<FONT size=2 face="serif">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">The registrant&#146;s other certifying officer(s) and I have disclosed to the registrant&#146;s auditors and the audit committee of the
registrant&#146;s board of directors (or persons performing the equivalent functions): </FONT></P>
<div style="margin-left:42px">
<P align="left">
<FONT size=2 face="serif">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably
likely to adversely affect the registrant&#146;s ability to record, process, summarize, and report financial information; and </FONT></P>
<P align="left">
<FONT size=2 face="serif">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#146;s internal control
over financial reporting. </FONT></P></div>
<P align="left">
<FONT size=2 face="serif">Date: March 24, 2008</FONT></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
  <TR valign="bottom">
    <TD align=left nowrap><div style="border-bottom:1px solid #000000;width:170px"><FONT size=2 face="serif">/s/
          Donald C. Burke</FONT></div></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Donald C. Burke</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Chief Executive Officer (principal
    executive officer) of</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">BlackRock Limited Duration
    Income Trust</FONT></TD>
  </TR>
</TABLE>
<P align="left"><BR>
  <BR>
</P>
<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE>
<B><FONT size=2 face="serif">EX-99. CERT<br>
</FONT></B>
<B><FONT size=2 face="serif">CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE
1940 ACT AND SECTION 302 OF <br>
THE SARBANES-OXLEY ACT OF 2002 </FONT></B><div style="border-bottom:1px solid #000000"> &nbsp;</div>

<P align="left">
<FONT size=2 face="serif">I, Neal J. Andrews, Chief Financial Officer (principal financial officer) of BlackRock Limited Duration Income Trust, certify that: </FONT></P>
<P align="left">
<FONT size=2 face="serif">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">I have reviewed this report on Form N-Q of BlackRock Limited Duration Income Trust; </FONT></P>
<P align="left">
<FONT size=2 face="serif">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">Based
on my knowledge, this report does not contain any untrue statement of a material
fact or omit to state a</FONT> <FONT size=2 face="serif">material fact necessary
to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;</FONT></P>
<P align="left">
<FONT size=2 face="serif">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant
as of the end of the fiscal quarter for which the report is filed; </FONT></P>
<P align="left">
<FONT size=2 face="serif">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">The registrant&#146;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as
defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: </FONT></P>
<div style="margin-left:42px">
<P align="left">
<FONT size=2 face="serif">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure
that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; </FONT></P>
<P align="left">
<FONT size=2 face="serif">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our
supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; </FONT></P>
<P align="left">
<FONT size=2 face="serif">c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">evaluated the effectiveness of the registrant&#146;s disclosure controls and procedures and presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and </FONT></P>
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<FONT size=2 face="serif">d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">disclosed in this report any change in the registrant&#146;s internal control over financial reporting that occurred during the registrant&#146;s
most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting; and </FONT></P></div>
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<FONT size=2 face="serif">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">The registrant&#146;s other certifying officer(s) and I have disclosed to the registrant&#146;s auditors and the audit committee of the
registrant&#146;s board of directors (or persons performing the equivalent functions): </FONT></P>
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<FONT size=2 face="serif">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably
likely to adversely affect the registrant&#146;s ability to record, process, summarize, and report financial information; and </FONT></P>
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<FONT size=2 face="serif">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#146;s internal control
over financial reporting. </FONT></P></div>
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<FONT size=2 face="serif">Date: March 24, 2008</FONT></P>
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    <TD align=left nowrap><div style="border-bottom:1px solid #000000;width:170px"><FONT size=2 face="serif">/s/
          Neal J. Andrews </FONT></div></TD>
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  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Neal J. Andrews </FONT></TD>
  </TR>
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    <TD align=left nowrap><FONT size=2 face="serif">Chief Financial Officer (principal
    financial officer) of</FONT></TD>
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    <TD align=left nowrap><FONT size=2 face="serif">BlackRock Limited Duration
    Income Trust </FONT></TD>
  </TR>
</TABLE>
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