-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 DcqhQvbllwyrUPiakOfi/O+yMS5pSgWSVYXN0v9UB4MQ7Rr/aXvCnb+DGUsKGSd/
 TYt/YWVWm1poqw7YOz02iA==

<SEC-DOCUMENT>0000930413-04-005429.txt : 20041124
<SEC-HEADER>0000930413-04-005429.hdr.sgml : 20041124
<ACCEPTANCE-DATETIME>20041123184858
ACCESSION NUMBER:		0000930413-04-005429
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20040930
FILED AS OF DATE:		20041124
DATE AS OF CHANGE:		20041123
EFFECTIVENESS DATE:		20041124

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKROCK GLOBAL FLOATING RATE INCOME TRUST
		CENTRAL INDEX KEY:			0001287480
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21566
		FILM NUMBER:		041164910

	BUSINESS ADDRESS:	
		STREET 1:		40 EAST 52ND STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-754-5336

	MAIL ADDRESS:	
		STREET 1:		40 EAST 52ND STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK VARIABLE RATE & INFLATION PROTECTED SECURITIES
		DATE OF NAME CHANGE:	20040416
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>c34268_nq.htm
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 3.2 FINAL//EN">


<HTML>
<HEAD>
   <TITLE>34238</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">

<P align="center">
  <FONT face="serif">UNITED STATES <br>
  </FONT>
  <FONT face="serif">SECURITIES AND EXCHANGE COMMISSION <br>
  </FONT>
  <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>
</FONT></B>
<B><FONT face="serif">MANAGEMENT INVESTMENT COMPANY </FONT></B>
</P>
<P>&nbsp;
</P>
<table width="100%"  border="0">
  <tr valign="top">
    <td width="50%"><font face="serif">Investment Company Act file number:</font></td>
    <td width="50%" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811-21566<br>
    _____________________________________________________</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td align="center">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td align="center">&nbsp;</td>
  </tr>
  <tr align="center">
    <td colspan="2">BlackRock Global Floating Rate Income Trust </td>
  </tr>
  <tr>
    <td colspan="2"><HR noshade align="center" width="100%" size=1></td>
  </tr>
  <tr align="center">
    <td colspan="2"><font face="serif">(Exact name of registrant as specified in charter)</font></td>
  </tr>
  <tr align="center">
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td align="center">&nbsp;</td>
  </tr>
  <tr>
    <td><font face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 Bellevue Parkway, Wilmington, DE</font></td>
    <td align="center"><font face="serif">19809</font></td>
  </tr>
  <tr>
    <td colspan="2"><HR noshade align="center" width="100%" size=1></td>
  </tr>
  <tr>
    <td><font face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Address of principal executive offices)</font></td>
    <td align="center"><FONT face="serif">(Zip code)</FONT></td>
  </tr>
</table>
<P align="center"><FONT face="serif"></FONT></P>
<P align="center"><FONT face="serif">Robert S. Kapito, President<br>
</FONT><b>BlackRock Global Floating Rate Income Trust <br>
</b> <font face="serif"> 40 East 52nd Street, New York, NY 10022
</font>
</P>
<hr noshade align="center" width="100%" size=1>
<p align="center"><font face="serif">(Name and address of agent for service) </font></p>
<p align="center">&nbsp; </p>
<p align="left">&nbsp; </p>
<table width="100%"  border="0">
  <tr valign="top">
    <td width="30%"><font face="serif">Registrant's telephone number, inc</font><font face="serif">luding area code: </font></td>
    <td width="70%"><font face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888-825-2257<br>
      ____________________________________________</font></td>
  </tr>
  <tr valign="top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr valign="top">
    <td><font face="serif">Date of fiscal year end: </font></td>
    <td><font face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;December 31, 2004<br>
      ____________________________________________
    </font></td>
  </tr>
  <tr valign="top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr valign="top">
    <td><font face="serif">Date of reporting period:</font></td>
    <td><font face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;September 30, 2004 <br>
    ____________________________________________    </font></td>
  </tr>
</table>
<p align="left">&nbsp;</p>
<p align="left"><FONT face="serif"><BR>
  </FONT></p>
<p align="left"><FONT face="serif"><BR>
  <BR>
  </FONT></p>
<HR noshade align="center" width="100%" size=2>
<page>
<P>
  <B><FONT face="serif">Item 1. Schedule of Investments</FONT></B>
</P>
<P>
  <FONT face="serif">The registrant's schedule of investments as of the close of the reporting period pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows: </FONT></P>
<P>&nbsp;</P>
<p><font size="3"><b>PORTFOLIO OF INVESTMENTS (</b><b>unaudited)</b><b><br>SEPTEMBER
30, 2004</b></font>
<p><font size="3"><b> BlackRock Global Floating Rate Income Trust (BGT)</b></font>
<p>
<table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr valign=top>
    <td width="10%" align=center><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td colspan="2" align=center><center>
      <font size="2"><b>Principal</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="62%" align=left><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="10%" align=right><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
  </tr>
  <tr valign=top>
    <td width="10%" align=center><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td colspan="2" align=center><center>
      <font size="2"><b>Amount</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="62%" align=left><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="10%" align=right><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
  </tr>
  <tr valign=top>
    <td width="10%" align=center><center>
      <font size="2"><b>Rating</b><sup><b>1</b></sup></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td colspan="2" align=center><center>
      <font size="2"><b>(000)</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="62%" align=left><center>
      <font size="2"><b>Description</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="10%" align=right><center>
      <font size="2"><b>Value</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
  </tr>
  <tr valign=top>
    <td colspan="9" align=center><HR noshade size=1></td>
  </tr>
  <tr valign=top><td width="10%" align=center></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>LONG-TERM INVESTMENTS&#151;102.0%</b></font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><b>&nbsp;</b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Corporate Bonds&#151;11.5%</b></font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2"><b>&nbsp;</b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Automotive&#151;0.2%</b></font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><font size="2">BB+</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">$   750</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Arvinmeritor, Inc., 8.75%, 3/01/12</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">$    834,375</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td ><HR noshade size=1></td>
  <td >&nbsp;</td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Basic Material&#151;0.3%</b></font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><font size="2">B1</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750 </font></td>
<td width="3%" align=right><div align="left"><font size="2"><sup>2</sup></font></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Foundation Pennsylvania Coal Co.,
7.25%, 8/01/14</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">800,625</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">BB</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750 </font></td>
<td width="3%" align=right><div align="left"><font size="2"><sup>2</sup></font></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">International Steel Group, Inc.,
6.50%, 4/15/14</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">750,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td ><HR noshade size=1></td>
  <td >&nbsp;</td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">1,550,625</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td ><HR noshade size=1></td>
  <td >&nbsp;</td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Building &amp; Development&#151;0.2%</b></font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><font size="2">B+</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,000 </font></td>
<td width="3%" align=right><div align="left"><font size="2"><sup>2</sup></font></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Ainsworth Lumber Co. Ltd., 5.669%,
10/01/10 (Canada)</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">1,002,280</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td ><HR noshade size=1></td>
  <td >&nbsp;</td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Chemical&#151;0.9%</b></font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><font size="2">B-</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">700 </font></td>
<td width="3%" align=right><div align="left"><font size="2"><sup>2</sup></font></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">BCP Caylux Holdings SCA, 9.625%,
6/15/14 (Luxembourg)</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">756,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">Ba3</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750 </font></td>
<td width="3%" align=right><div align="left"><font size="2"><sup>2</sup></font></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Hercules, Inc., 6.75%, 10/15/29</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">761,250</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">B-</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Huntsman Intl., LLC, 9.875%, 3/01/09</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">821,250</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Lyondell Chemical Co.,</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">B+</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">300</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;11.125%, 7/15/12</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">346,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">B+</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">300</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;Ser. A, 9.625%, 5/01/07</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">325,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">B-</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750 </font></td>
<td width="3%" align=right><div align="left"><font size="2"><sup>2</sup></font></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Nalco Chemical Co., 8.875%, 11/15/13</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">806,250</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td ><HR noshade size=1></td>
  <td >&nbsp;</td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">3,816,750</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td ><HR noshade size=1></td>
  <td >&nbsp;</td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Conglomerates&#151;0.2%</b></font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2"><font size="2">B</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Trimas Corp., 9.875%, 6/15/12</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">780,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td ><HR noshade size=1></td>
  <td >&nbsp;</td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Consumer Products&#151;0.2%</b></font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2"><font size="2">B-</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">400 </font></td>
<td width="3%" align=right><div align="left"><font size="2"><sup>2</sup></font></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Lazy Days RV Center, Inc., 11.75%,
5/15/12</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">420,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">B+</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">350</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Stoneridge, Inc., 11.50%, 5/01/12</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">397,250</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td ><HR noshade size=1></td>
  <td >&nbsp;</td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">817,250</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td ><HR noshade size=1></td>
  <td >&nbsp;</td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Containers &amp; Glass&#151;0.2%</b></font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2"><font size="2">B</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Crown European Holdings SA, 10.875%,
3/01/13 (France)</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">873,750</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td ><HR noshade size=1></td>
  <td >&nbsp;</td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Ecological Services &amp; Equipment&#151;0.2%</b></font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2"><font size="2">BB-</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Allied Waste NA, Inc., Ser. B, 5.75%,
1/15/10</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">708,750</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td ><HR noshade size=1></td>
  <td >&nbsp;</td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Energy&#151;5.0%</b></font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2"><font size="2">BB</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750 </font></td>
<td width="3%" align=right><div align="left"><font size="2"><sup>2</sup></font></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">AES Corp., 9.00%, 5/15/15</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">851,250</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">BBB+</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Compton Petroleum Corp., Ser. A,
9.90%, 5/15/09 (Canada)</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">832,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">B1</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Edison Mission Energy, 10.00%, 8/15/08</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">877,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">B-</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">El Paso Production Holding Co., 7.75%,
6/01/13</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">750,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">BB-</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">9,000</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Gazprom, 9.625%, 3/01/13 (Russia)</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">10,012,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">B</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Hanover Compressor Co., 9.00%, 6/01/14</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">817,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">B-</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">730</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">KCS Energy, Inc., 7.125%, 4/01/12</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">751,900</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">B+</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750 </font></td>
<td width="3%" align=right><div align="left"><font size="2"><sup>2</sup></font></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">NRG Energy, Inc., 8.00%, 12/15/13</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">802,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">BBB+</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">4,500</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Pemex Project Funding Master Trust,
Ser. 15, 3.40%, 10/15/09</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">4,657,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">Baa1</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">500</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Petroleos Mexicanos, 9.375%, 12/02/08
(Mexico)</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">585,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">B+</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Reliant Energy, Inc., 9.25%, 3/15/07</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">804,375</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">BB-</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">300</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Swift Energy Co., 7.625%, 7/15/11</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">319,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td ><HR noshade size=1></td>
  <td >&nbsp;</td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">22,062,025</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td ><HR noshade size=1></td>
  <td >&nbsp;</td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Financial Institutions&#151;1.6%</b></font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2"><font size="2">BB</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Crum &amp; Forster Holdings Corp.,
10.375%, 6/15/13</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">800,625</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">BB-</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,255</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Kazkommerts Intl. BV, 8.50%, 4/16/13
(Netherlands)</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">2,292,658</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">Baa2</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,000 </font></td>
<td width="3%" align=right><div align="left"><font size="2"><sup>2</sup></font></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Kazkommertsbank Intl. BV, 8.50%,
4/16/13 (Netherlands)</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">3,015,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">B3</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750 </font></td>
<td width="3%" align=right><div align="left"><font size="2"><sup>2</sup></font></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Rainbow Nat. Svcs. LLC, 8.75%, 9/01/12</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">780,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td ><HR noshade size=1></td>
  <td >&nbsp;</td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">6,888,283</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td ><HR noshade size=1></td>
  <td >&nbsp;</td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Forest Products&#151;0.1%</b></font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2"><font size="2">&nbsp;</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Georgia Pacific Corp.,</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">BB+</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">125</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;7.25%, 6/01/28</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">130,625</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">BB+</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">375</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;8.00%, 1/15/24</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">427,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td ><HR noshade size=1></td>
  <td >&nbsp;</td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%" align=right><div align="left"></div></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">558,125</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td ><HR noshade size=1></td>
  <td >&nbsp;</td>
</tr>
</table>
<p>
<p align='center'>1<HR noshade size=4><PAGE><p>
<hr noshade size=3>
<p><font size="3"><b> BlackRock Global Floating Rate Income Trust (BGT) (continued)</b></font>
<p><table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr valign=top>
    <td width="10%" align=center><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td colspan="2" align=center><center>
        <font size="2"><b>Principal</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="62%" align=left><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="10%" align=right><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
  </tr>
  <tr valign=top>
    <td width="10%" align=center><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td colspan="2" align=center><center>
        <font size="2"><b>Amount</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="62%" align=left><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="10%" align=right><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
  </tr>
  <tr valign=top>
    <td width="10%" align=center><center>
        <font size="2"><b>Rating</b><sup><b>1</b></sup></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td colspan="2" align=center><center>
        <font size="2"><b>(000)</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="62%" align=left><center>
        <font size="2"><b>Description</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="10%" align=right><center>
        <font size="2"><b>Value</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
  </tr>
  <tr valign=top>
    <td colspan="9" align=center><HR noshade size=1></td>
  </tr>
  <tr valign=top><td width="10%" align=center><font size="2"><font size="2"></font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Health Care&#151;0.5%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right><font size="2"></font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><font size="2">B-</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">$   750 </font></td>
<td width="3%"><font size="2"><sup>2</sup></font></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">IASIS Healthcare Corp., 8.75%, 6/15/14</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">$    785,625</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">B-</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">650</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Universal Hospital Svcs., Inc., 10.125%,
11/01/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">661,375</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">B2</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750 </font></td>
<td width="3%"><font size="2"><sup>2</sup></font></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">US Oncology, Inc., 9.00%, 8/20/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">780,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,227,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Hotels &amp; Casino&#151;0.2%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2"><font size="2">BB+</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">MGM Mirage, 5.875%, 2/27/14</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">720,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Industrials&#151;0.1%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2"><font size="2">B+</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">United Rentals NA, Inc., 7.00%, 2/15/14</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">667,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Media&#151;0.4%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2"><font size="2">B</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">400</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Cenveo Corp., 7.875%, 12/01/13</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">386,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">CCC+</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Charter Communications Holdings II,
LLC, 10.25%, 9/15/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">763,125</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">BB-</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Echostar DBS Corp., 6.375%, 10/01/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">757,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,906,625</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Technology&#151;0.2%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><font size="2">Ba3</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Celestica, Inc., 7.875%, 7/01/11
(Canada)</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">783,750</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Telecommunication&#151;0.7%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><font size="2">&nbsp;</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Cincinnati Bell, Inc.,</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">B+</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">400</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 7/15/13</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">388,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">B</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">400</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;8.375%, 1/15/14</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">364,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">BB</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Nextel Communications, Inc., 5.95%,
3/15/14</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">738,750</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Qwest Corp.,</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">BB</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750 </font></td>
<td width="3%"><font size="2"><sup>2</sup></font></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;7.875%, 9/01/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">780,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">B+</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750 </font></td>
<td width="3%"><font size="2"><sup>2</sup></font></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;14.00%, 12/15/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">878,438</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,149,188</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Transportation&#151;0.3%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2"><font size="2">B-</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">400 </font></td>
<td width="3%"><font size="2"><sup>2</sup></font></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Horizon Lines, LLC, 9.00%, 11/01/12</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">420,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">B+</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">OMI Corp., 7.625%, 12/01/13 (Marshall
Islands)</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">761,250</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,181,250</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Total Corporate Bonds</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">50,527,526</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Bank Loans&#151;69.6%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><b>&nbsp;</b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Aero &amp; Defense&#151;1.8%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2"><font size="2">&nbsp;</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Caci Intl, Inc., Term Loan, LIBOR
+ 1.50%, 5/03/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,013,125</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Piedmont Hawthorne Holding, Inc.,
Term Loan, PRIME + 4.25%, 9/15/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,017,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Standard Aero, Inc., Term Loan, LIBOR
+ 2.50%, 8/20/12</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,035,625</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">8,066,250</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Automotive&#151;2.6%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><font size="2">&nbsp;</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,938</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Plastech Inc., Term Loan B, LIBOR
+ 2.75%, 2/12/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,962,963</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Progressive Moulded Products, Ltd.,
Term Loan B, LIBOR + 2.50%, 8/16/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,003,750</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,500</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">RJ Tower Corp., Term Loan B, LIBOR
+ 4.25%, 5/21/09</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,456,250</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">TI Group Automotive Systems NA, Term
Loan C, LIBOR + 3.25%, 6/30/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,998,125</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">11,421,088</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Building &amp; Development&#151;2.1%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><font size="2">&nbsp;</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">295</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Associated Materials, Inc., Term
Loan, LIBOR + 2.75%, 8/20/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">297,868</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,060</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Juno Lighting, Inc., Term Loan, LIBOR
+ 5.50%, 5/21/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,070,600</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Landsource Communities Development,
LLC, Term Loan B, LIBOR + 2.50%, 3/31/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,027,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Ply Gem Industries, Inc.,</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">152</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;CND Term Loan, LIBOR + 2.50%, 03/15/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">153,081</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,348</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;USD Term Loan, LIBOR + 2.50%, 2/11
- - 10/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,368,794</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,500</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Resolution Specialty Materials, Term
Loan, LIBOR + 2.75%, 8/02/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,517,188</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">9,435,031</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Chemical&#151;7.1%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2"><font size="2">&nbsp;</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Celanese AG, Term Loan (Germany)</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">620</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 4/06/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">629,481</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,380</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;LIBOR + 2.50%, 4/06/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,399,895</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Cognis, Term Loan, LIBOR + 4.75%,
11/15/13</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,030,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Huntsman Intl., LLC, Term Loan B,
LIBOR + 3.25%, 12/31/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,037,500</font></td>

<td width="2%">&nbsp;</td></tr>
</table>
<p align="center"><br>2
<HR noshade size=4><PAGE><p>
<hr noshade size=3>
<p><font size="3"><b> BlackRock Global Floating Rate Income Trust (BGT) (continued)</b></font>
<p><table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr valign=top>
    <td align=center><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td colspan="2" align=center><center>
        <font size="2"><b>Principal</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="62%" align=left><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="10%" align=right><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
  </tr>
  <tr valign=top>
    <td align=center><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td colspan="2" align=center><center>
        <font size="2"><b>Amount</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="62%" align=left><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="10%" align=right><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
  </tr>
  <tr valign=top>
    <td align=center><center>
        <h5><font size="2"><b>Rating</b><sup><b>1</b></sup></font>
        </h5>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td colspan="2" align=center><center>
        <font size="2"><b>(000)</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="62%" align=left><center>
        <font size="2"><b>Description</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="10%" align=right><center>
        <font size="2"><b>Value</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
  </tr>
  <tr valign=top>
    <td colspan="9" align=center><HR noshade size=1></td>
  </tr>
  <tr valign=top><td align=center><h5><font size="2"><font size="2"></font></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Chemical&#151;(continued)</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right><font size="2"></font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"><font size="2">&nbsp;</font></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Innophos, Inc., Term Loan,</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2"></font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">$ 1,618</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;LIBOR + 2.75%, 8/13/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">$  1,636,386</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">382</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 8/13/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">386,114</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,877</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Kraton Polymers, LLC, Term Loan B,
LIBOR + 2.50%, 12/23/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,889,588</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Nalco Chemical Co., Term Loan B,</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2"></font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">5,831</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;LIBOR + 2.50%, 11/04/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">5,894,530</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">81</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;PRIME + 4.50%, 11/04/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">81,797</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,000</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Professional Paint, Inc., Term Loan,
PRIME + 2.25%, 9/30/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,007,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Ripplewood Phosphorus US, LLC, Term
Loan, LIBOR + 3.00%, 6/21/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,007,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">4,000</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Rockwood Specialties Group, Inc.,
Term Loan B, LIBOR + 2.50%, 7/30/12</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">4,022,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">United Industries Corp., Term Loan,</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2"></font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,000</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;LIBOR + 2.50%, 4/29/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,045,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;LIBOR + 4.50%, 10/31/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,030,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td ><h5>&nbsp;</h5></td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="4%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">31,097,791</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td ><h5>&nbsp;</h5></td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="4%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"><b><font size="2">&nbsp;</font></b></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Conglomerates&#151;2.1%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"><font size="2">&nbsp;</font></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,500</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Honeywell Security Group, Term Loan
B, PRIME + 3.00%, 6/28/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,491,250</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Invesys Intl. Holdings Ltd.,</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;Term Loan, LIBOR + 4.75%, 11/30/09</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,065,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">984</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;Term Loan B1, LIBOR + 3.50%, 9/05/09</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">993,077</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,750</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Polypore, Inc., Term Loan, LIBOR
+ 2.25%, 11/12/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,768,906</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td ><h5>&nbsp;</h5></td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="4%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">9,318,233</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td ><h5>&nbsp;</h5></td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="4%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td align=center><h5><font size="2"><b><font size="2">&nbsp;</font></b></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Consumer Products&#151;10.2%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"><font size="2">&nbsp;</font></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Ames True Temper, Term Loan B,</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;PRIME + 1.75%, 7/02/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,169</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,993</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;LIBOR + 3.00%, 7/02/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,016,937</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Church &amp; Dwight Co., Inc., Term
Loan B, LIBOR + 1.75%, 5/30/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,022,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">CKE Restaurants, Term Loan, LIBOR
+ 3.00%, 5/01/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,035,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,987</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Coinmach Service Corp., Term Loan
B, LIBOR + 2.75%, 7/25/09</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,004,437</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">750</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Culligan Water Co., Term Loan, LIBOR
+ 2.75%, 10/15/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">760,313</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,500</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Denny&#146;s Corp., Term Loan, LIBOR,
9/30/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,548,125</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Duane Reade, Term Loan B, LIBOR,
7/30/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,019,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">5,000</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Invista, Term Loan B, LIBOR + 3.00%,
4/27/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">5,059,375</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,750</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Jean Coutu Group, Inc., Term Loan
B, LIBOR + 2.25%, 7/30/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,771,278</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Knoll, Inc., Term Loan, LIBOR + 3.00%,
10/15/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,000,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,000</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Language Line, Inc., Term Loan, LIBOR
+ 4.25%, 6/13/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,026,250</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Maidenform, Inc., Term Loan,</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">297</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;LIBOR + 3.25%, 5/14/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">301,074</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">590</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;LIBOR + 7.50%, 5/11/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">600,325</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,992</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">National Bedding Co., LLC, Term Loan
B, LIBOR + 2.25%, 8/31/08</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,014,447</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,000</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Oriental Trading Co., Inc., Term
Loan, LIBOR + 6.00%, 1/08/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,015,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">5,500</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">OSI Industries, Inc., Term Loan,
LIBOR + 2.50%, 9/15/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">5,537,812</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,000</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Pierre Foods, Inc., Term Loan B,
LIBOR + 2.75%, 6/30/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,020,001</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Prestige Brands Holdings, Inc., Term
Loan B,</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,989</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;LIBOR, 4/06/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,997,019</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">6</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;PRIME + 1.75%, 4/06/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">6,294</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,000</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Rite Aid Corp., Term Loan, LIBOR
+ 1.75%, 8/31/09</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,011,250</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td ><h5>&nbsp;</h5></td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="4%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">44,768,606</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td ><h5>&nbsp;</h5></td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="4%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td align=center><h5><font size="2"><b><font size="2">&nbsp;</font></b></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Containers &amp; Glass&#151;1.7%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"><font size="2">&nbsp;</font></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,729</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Berry Plastics Corp., Term Loan C,
LIBOR + 2.25%, 6/30/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,758,722</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,825</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Crown Americas, Term Loan B, LIBOR
+ 2.25%, 9/01/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,833,313</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,992</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Solo Cup Co., Term Loan, LIBOR, 2/27/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,015,547</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td ><h5>&nbsp;</h5></td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="4%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">7,607,582</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td ><h5>&nbsp;</h5></td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="4%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"><b><font size="2">&nbsp;</font></b></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Ecological Services &amp; Equipment&#151;2.1%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"><font size="2">&nbsp;</font></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Allied Waste NA, Inc., Term Loan
B, LIBOR + 2.75%, 1/15/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,025,714</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Envirosolutions, Inc., Term Loan,</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,818</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 3/31/09</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,809,091</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,136</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;LIBOR + 4.50%, 3/01/09</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,124,777</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">46</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;LIBOR + 4.50%, 3/31/09</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">46,132</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,000</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Waste Connections, Inc., Term Loan,
LIBOR + 1.50%, 10/22/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,026,250</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top ><td ><h5>&nbsp;</h5></td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="4%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td align=center><h5><font size="2"></font></h5></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="4%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">9,031,964</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td ><h5>&nbsp;</h5></td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="4%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr></table>
<p align='center'>3
<HR noshade size=4><PAGE><p>
<hr noshade size=3>
<p><font size="3"><b> BlackRock Global Floating Rate Income Trust (BGT) (continued)</b></font>
<p><table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr valign=top>
    <td width="10%" align=center><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td colspan="2" align=center><center>
        <font size="2"><b>Principal</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="62%" align=left><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="10%" align=right><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
  </tr>
  <tr valign=top>
    <td width="10%" align=center><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td colspan="2" align=center><center>
        <font size="2"><b>Amount</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="62%" align=left><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="10%" align=right><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
  </tr>
  <tr valign=top>
    <td width="10%" align=center><center>
        <font size="2"><b>Rating</b><sup><b>1</b></sup></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td colspan="2" align=center><center>
        <font size="2"><b>(000)</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="62%" align=left><center>
        <font size="2"><b>Description</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="10%" align=right><center>
        <font size="2"><b>Value</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
  </tr>
  <tr valign=top>
    <td colspan="9" align=center><HR noshade size=1></td>
  </tr>
  <tr valign=top><td width="10%" align=center></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Energy&#151;3.3%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><font size="2">&nbsp;</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">$ 1,500</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">AES Corp., Term Loan, LIBOR + 2.25%,
4/30/08</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">$  1,514,766</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Belden &amp; Blake, Term Loan, LIBOR,
6/30/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,020,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Dynegy Holdings, Inc., Term Loan,
LIBOR, 5/10/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,037,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Reliant Resources, Inc., Term Loan
A,</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">4,893</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;LIBOR, 3/15/07</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">4,903,665</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;LIBOR + 4.00%, 3/15/07</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,004,166</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Semgroup, LP, Term Loan B,</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,980</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;LIBOR + 3.25%, 8/27/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,999,800</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">20</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;PRIME + 1.75%, 8/27/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">20,200</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">14,500,097</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Entertainment &amp; Leisure&#151;1.8%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2"><font size="2">&nbsp;</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">4,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Loews Cineplex Entertainment Corp.,
Term Loan B, LIBOR + 2.25%, 7/31/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">4,037,144</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,750</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Wallace Theaters, Term Loan, LIBOR
+ 3.25%, 7/09 - 1/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,775,313</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">7,812,457</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Financial Institutions&#151;1.9%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2"><font size="2">&nbsp;</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,976</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Global Cash Access, LLC, Term Loan,
LIBOR + 2.75%, 3/10/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,000,779</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,500</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Olympus Cable Holdings, LLC, Term
Loan B, Prime + 2.00%, 9/30/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,437,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Titan Corp., Term Loan B,</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">9</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;PRIME + 2.00%, 6/30/09</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">8,777</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,991</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;LIBOR + 3.25%, 6/30/09</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,001,849</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">8,448,905</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Forest Products&#151;1.2%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><font size="2">&nbsp;</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Appleton Papers, Inc., Term Loan,
LIBOR + 2.25%, 6/11/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,030,750</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Buckeye Technologies, Inc., Term
Loan, LIBOR + 2.50%, 4/15/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,012,083</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,245</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Koch Cellulose, LLC, Term Loan, LIBOR
+ 2.25%, 5/07/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,259,771</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">5,302,604</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Health Care&#151;7.9%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2"><font size="2">&nbsp;</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">4,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Accredo Health, Inc., Term Loan B,
LIBOR + 1.75%, 4/30/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">4,010,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,708</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Advanced Medical Optics, Term Loan
B, LIBOR, 6/25/29</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,729,688</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,500</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Arizant, Inc., Term Loan, LIBOR +
3.75%, 8/15/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,509,375</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">7,450</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Community Health Systems, Inc., Term
Loan, LIBOR + 1.75%, 8/19/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">7,453,993</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">4,870</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Concentra, Inc., Term Loan B, LIBOR
+ 2.50%, 6/30/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">4,926,818</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,993</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Davita, Inc., Term Loan B, LIBOR
+ 2.00%, 8/31/09</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,018,935</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">HealthSouth Corp., Term Loan, LIBOR,
1/16/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,090,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">IASIS Healthcare Corp., Term Loan
B, LIBOR + 2.50%, 6/30/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,033,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Kinetic Concepts, Inc., Term Loan
B1, LIBOR + 2.0%, 8/11/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,020,834</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">US Oncology, Inc., Term Loan, LIBOR
+ 2.75%, 6/30/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,018,750</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Vanguard Health Systems, Term Loan,
LIBOR + 3.25%, 2/23/05</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,014,167</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">34,825,560</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Hotels &amp; Casino&#151;3.2%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><font size="2">&nbsp;</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Boyd Gaming Corp., Term Loan B, LIBOR
+ 1.75%, 6/30/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,020,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,960</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Greektown Casino, LLC, Term Loan
D, LIBOR + 3.50%, 12/31/05</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,964,862</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,200</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Penn National Gaming, Inc., Term
Loan D, LIBOR + 2.50%, 9/01/07</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,230,250</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,724</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Venetian Casino Resorts, Term Loan
B, LIBOR + 1.50%, 6/15/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,747,385</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Wyndham Intl., Inc.,</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,468</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;Term Loan, LIBOR + 5.75%, 4/01/06</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,456,547</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,652</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;Term Loan 1, LIBOR + 4.75%, 6/30/06</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,624,344</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">14,043,388</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Industrials&#151;0.4%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2"><font size="2">&nbsp;</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Alderwoods Group, Inc., Term Loan
B1,</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">950</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;LIBOR + 2.75%, 8/19/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">962,890</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">9</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;PRIME + 1.75%, 8/19/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">8,915</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Brennan Industries, Term Loan B,
LIBOR + 3.50%, 12/31/07</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,011,875</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,983,680</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Media&#151;11.4%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2"><font size="2">&nbsp;</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Bragg Communication, Term Loan B,
LIBOR + 2.50%, 8/31/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,015,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Century TCI California LP, Term Loan,
PRIME + 0.75%, 12/31/07</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,982,916</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Charter Communications Operating,
LLC,</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;Term Loan A, LIBOR, 4/27/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,974,905</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;Term Loan B, LIBOR + 3.25%, 4/27/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,983,270</font></table>
<p align="center"><br>4
<HR noshade size=4><PAGE><p>
<hr noshade size=3>
<p><font size="3"><b> BlackRock Global Floating Rate Income Trust (BGT) (continued)</b></font>
<p><table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr valign=top>
    <td width="10%" align=center><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td colspan="2" align=center><center>
        <font size="2"><b>Principal</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="62%" align=left><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="10%" align=right><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
  </tr>
  <tr valign=top>
    <td width="10%" align=center><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td colspan="2" align=center><center>
        <font size="2"><b>Amount</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="62%" align=left><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="10%" align=right><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
  </tr>
  <tr valign=top>
    <td width="10%" align=center><center>
        <font size="2"><b>Rating</b><sup><b>1</b></sup></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td colspan="2" align=center><center>
        <font size="2"><b>(000)</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="62%" align=left><center>
        <font size="2"><b>Description</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="10%" align=right><center>
        <font size="2"><b>Value</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
  </tr>
  <tr valign=top>
    <td colspan="9" align=center><HR noshade size=1></td>
  </tr>
  <tr valign=top><td width="10%" align=center><font size="2"><font size="2"></font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Media&#151;(continued)</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right><font size="2"></font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><font size="2">&nbsp;</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">$ 4,124</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Dex Media East, LLC, Term Loan B,
LIBOR + 2.00%, 5/08/09</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">$  4,170,894</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,986</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Dex Media West, LLC, Term Loan B,
LIBOR + 2.25%, 3/09/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,008,713</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Emmis Communications, Term Loan B,
LIBOR, 11/10/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,014,444</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,750</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Freedom Communications, Inc., Term
Loan, LIBOR, 5/18/12</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,789,102</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">5,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Insight Midwest Holdings, LLC, Term
Loan A, LIBOR + 1.50%, 6/30/09</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">4,987,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Media News, Term Loan C,</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2"></font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,476</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;LIBOR + 3.125%, 8/30/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,485,162</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">24</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;PRIME + 0.50%, 8/30/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">23,588</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Nexstar Broadcasting, Inc., Term
Loan D, LIBOR + 1.75%, 12/31/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,000,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">5,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">NTL Cable, Inc., Term Loan B, LIBOR
+ 3.00%, 5/19/12</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">5,025,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,500</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">R.H. Donnelley, Inc., Term Loan B2,
LIBOR, 6/30/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,530,990</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Transwestern Publishing Co., Term
Loan,</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2"></font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,777</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;LIBOR + 4.50%, 2/25/12</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,789,502</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">223</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;PRIME + 2.50%, 2/25/12</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">224,248</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,992</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Warner Music Group, Term Loan B,
LIBOR, 2/28/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,030,955</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Western Wireless Corp.,</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2"></font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;Term Loan A, LIBOR + 2.25%, 5/28/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,007,968</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;Term Loan B, LIBOR + 3.00%, 5/30/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,039,642</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">50,083,799</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Technology&#151;2.5%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><font size="2">&nbsp;</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Directed Electronics, Inc., Term
Loan,</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">8</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;PRIME + 3.25%, 3/15/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">7,552</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,992</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;LIBOR + 4.25%, 3/15/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,013,073</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Network Communications, Term Loan
B, LIBOR + 4.00%, 6/30/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,020,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">UGS PLM, Term Loan B, LIBOR + 2.25%,
5/27/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,022,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Verifone, Inc., Term Loan B, LIBOR
+ 2.50%, 6/30/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,030,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">11,093,125</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Telecommunication&#151;5.1%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><font size="2">&nbsp;</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Atlantic Broadband Finance, LLC,
Term Loan, LIBOR + 3.25%, 1/30/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,023,126</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,244</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Centennial Communications Corp.,
Term Loan B, LIBOR + 2.75%, 2/09/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,267,050</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">5,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">FairPoint Communications, Inc., Term
Loan B, LIBOR + 4.00%, 5/18/12</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">5,028,125</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Nextel Partners, Inc., Term Loan
C, LIBOR + 2.50%, 5/31/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,025,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">PanAmSat Corp., Term Loan B, LIBOR
+ 2.50%, 8/20/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,000,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">5,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Qwest Corp., Term Loan A, LIBOR +
4.75%, 6/30/07</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">5,170,835</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Valor Communications, Inc., Term
Loan B, LIBOR + 3.75%, 9/30/09</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,033,750</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">22,548,386</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Transportation&#151;1.2%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2"><font size="2">&nbsp;</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">4,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Harbor Freight Tools, Term Loan B,
LIBOR + 2.75%, 7/15/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">4,017,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,250</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Transport Industries, LP, Term Loan,
LIBOR + 4.00%, 6/13/10</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,250,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">&nbsp;</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">5,267,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Total Bank Loans</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">306,656,046</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>

<tr valign=top><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Foreign Government Bonds&#151;20.9%</b></font></td>
<td width="2%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><font size="2">B</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">6,333</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Bolivarian Republic of Venezuela,
2.75%, 12/18/07</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">6,301,414</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Federative Republic of Brazil,</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">BB-</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">9,765</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;2.125%, 4/15/09 - 4/15/12</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">9,256,059</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">BB-</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">9,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;7.72%, 6/29/09</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">9,846,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">BB-</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">7,037</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;8.00%, 4/15/14</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">6,957,810</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">BB-</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,500</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;Ser. B, 10.00%, 8/07/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,638,750</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">B</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Islamic Republic of Pakistan, 6.75%,
2/19/09</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,017,309</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">BB</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">4,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Kingdom of Morocco, 8.12%, 1/05/09</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">3,935,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">A-</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">500</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Malaysia, 8.75%, 6/01/09</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">598,260</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">BBB-</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">5,333</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Republic of Bulgaria, 2.75%, 7/28/12</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">5,306,667</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">A</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,500</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Republic of Chile, 6.875%, 4/28/09</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,678,800</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Republic of Colombia,</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">BB</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;8.625%, 4/01/08</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,195,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">BB+</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">5,546</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;9.75%, 4/09/11</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">6,283,054</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">Ba1</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">2,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Republic of Costa Rica, 9.335%, 5/15/09</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">2,175,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">CCC+</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,500</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Republic of Ecuador, 12.00%, 11/15/12</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">1,479,750</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">BB+</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">500</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Republic of El Salvador, 9.50%, 8/15/06</font></td>
<td width="2%" align=right><font size="2">&nbsp;</font></td>
<td width="10%" align=right><font size="2">549,375</font></td>

<td width="2%">&nbsp;</td></tr>
</table>
<p><p>
<font size="2"></font><p><br><p align='center'>5<HR noshade size=4><PAGE><p>
<hr noshade size=3>
<p><font size="3"><b> BlackRock Global Floating Rate Income Trust (BGT) (continued)</b></font>
<p><table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr valign=top>
    <td width="10%" align=center><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td colspan="2" align=center><center>
        <font size="2"><b>Principal</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="62%" align=left><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="10%" align=right><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
  </tr>
  <tr valign=top>
    <td width="10%" align=center><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td colspan="2" align=center><center>
        <font size="2"><b>Amount</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="62%" align=left><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="10%" align=right><center>
    </center></td>
    <td width="2%"><center>
    </center></td>
  </tr>
  <tr valign=top>
    <td width="10%" align=center><center>
        <font size="2"><b>Rating</b><sup><b>1</b></sup></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td colspan="2" align=center><center>
        <font size="2"><b>(000)</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="62%" align=left><center>
        <font size="2"><b>Description</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
    <td width="10%" align=right><center>
        <font size="2"><b>Value</b></font>
    </center></td>
    <td width="2%"><center>
    </center></td>
  </tr>
  <tr valign=top>
    <td colspan="9" align=center><HR noshade size=1></td>
  </tr>
  <tr valign=top><td width="10%" align=center><font size="2"><font size="2"></font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Foreign Government Bonds&#151;(continued)</b></font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2"></font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><font size="2">&nbsp;</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Republic of Panama,</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2"></font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">Ba1</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">$ 8,018</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 7/17/16</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">$  7,256,299</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">Ba1</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">500</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;8.25%, 4/22/08</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">547,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Republic of Peru,</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2"></font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">BB</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,500</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 3/07/17</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">3,106,250</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">BB</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,500</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;9.125%, 1/15/08</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">1,695,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">BBB</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,500</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Republic of South Africa, 7.375%,
4/25/12</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">1,686,300</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">BB</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,500</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Republic of the Philippines, 8.875%,
4/15/08</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">1,641,591</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">BB-</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">1,500</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Republic of Turkey, 12.00%, 12/15/08</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">1,826,250</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">B</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">4,143</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Republic of Venezuela, 2.063%, 3/31/07</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">4,132,293</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Ukraine,</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2"></font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">B+</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">4,500 </font></td>
<td width="3%"><font size="2"><sup>2</sup></font></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;5.33%, 8/05/09</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">4,538,745</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">B+</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,500 </font></td>
<td width="3%"><font size="2"><sup>2</sup></font></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"> &nbsp;&nbsp;&nbsp;&nbsp;6.875%, 3/04/11</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">3,430,000</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">Baa2</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">3,000</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">United Mexican States, 2.753%, 1/13/09</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">3,025,500</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Total Foreign Government Bonds</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">92,103,976</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Total Long-Term Investments</b>
(cost $448,448,588)</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">449,287,548</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>SHORT-TERM INVESTMENTS&#151;5.0%</b></font></td>
<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2"><font size="2">&nbsp;</font></font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">22,100 </font></td>
<td width="3%"><font size="2"><sup>3</sup></font></td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Federal Home Loan Mortgage Corp.,
1.60%, 10/05/04 (cost $22,096,071)</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">22,096,071</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Total investments&#151;107.0%</b>
(cost $470,544,659)</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">471,383,619</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2">Liabilities in excess of other assets&#151;(7.0)%</font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">(30,868,186</font></td>

<td width="2%"><font size="2">)</font></td>
</tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=1></td>
  <td width="2%" >&nbsp;</td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="2%">&nbsp;</td>
<td width="7%" align=right><font size="2">&nbsp;</font></td>
<td width="3%">&nbsp;</td>
<td width="2%">&nbsp;</td>
<td width="62%" align=left><font size="2"><b>Net Assets&#151;100%</b></font></td>
<td width="2%">&nbsp;</td>
<td width="10%" align=right><font size="2">$440,515,433</font></td>

<td width="2%">&nbsp;</td></tr>
<tr valign=top><td width="10%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="7%" >&nbsp;</td>
  <td width="3%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="62%" >&nbsp;</td>
  <td width="2%" >&nbsp;</td>
  <td width="10%" ><HR noshade size=4></td>
  <td width="2%" >&nbsp;</td>
</tr></table>

<p>
<table border="0" cellspacing="0" cellpadding="0"><tr valign=top> <td colspan="3" align=left><hr align="left" width="140" size=1 noshade></td> <td>&nbsp;</td> </tr>
<tr valign=top>
  <td align=left><font size="2"><font size="2"><sup>1</sup></font></font></td>
<td><font size="2">&nbsp;
</font></td>
<td align=left><font size="2">Using the higher of Standard &amp;
Poor&#146;s, Moody&#146;s Investors Service or Fitch Ratings rating.</font></td>

<td>&nbsp;</td></tr>
<tr valign=top><td align=left><font size="2"><sup>2</sup></font></td>
<td>&nbsp;</td>
<td align=left><font size="2">Security is not registered under
the Securities Act of 1933. These securities may be resold in transactions in accordance
with Rule 144A under that Act, to qualified institutional buyers. As of September
30, 2004, the Trust held 5.1% of its net assets, with a current market value of
$22,357,963, in securities restricted as to resale.</font></td>

<td>&nbsp;</td></tr>
<tr valign=top><td align=left><font size="2"><sup>3</sup></font></td>
<td>&nbsp;</td>
<td align=left><font size="2">For purposes of amortized cost valuation,
the maturity date of this instrument is considered to be the earlier of the next
date on which the security can be redeemed at par, or the next date on which the
rate of interest is adjusted.</font></td><td>&nbsp;</td></tr></table>
<p align="center"><br>6

<HR noshade align="center" width="100%" size=2>
<page>
  <B><FONT face="serif">Item 2. Controls and Procedures</FONT></B>
<p></P>
<P>
  <FONT face="serif">(a) The registrant's principal executive officer and principal financial officer have evaluated the registrant's disclosure controls and procedures within 90 days of this filing and have concluded that the registrant&#146;s
disclosure controls and procedures are effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-Q was recorded, processed, summarized, and reported timely. </FONT>
</P>
<P>
  <FONT face="serif">(b) The registrant's principal executive officer and principal financial officer are aware of no changes in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal
quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. </FONT>
</P>
<P>
  <B><FONT face="serif">Item 3. Exhibits.</FONT></B>
</P>
<P>
  <FONT face="serif">Separate certifications of Principal Executive and Financial
  Officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 attached
  as EX-99.CERT. </FONT>
</P>

<HR noshade align="center" width="100%" size=2>
<page>
<P>
  <B><FONT face="serif">SIGNATURES</FONT></B>
</P>
<P>
  <FONT 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>
  <FONT face="serif">(Registrant)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Global Floating Rate Income Trust<BR>
  ______________________________________________________________<BR>
  </FONT>
</P>
<P>
  <FONT face="serif">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Henry Gabbay<BR>
  _____________________________________________________________________<BR>
  Name: Henry Gabbay <br>
  Title: Treasurer<br>
  Date: November 23, 2004 </FONT>
</P>
<P>
  <FONT 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>
<P>
  <FONT face="serif">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Robert S. Kapito <BR>
  _____________________________________________________________________<BR>
  Name: Robert S. Kapito <br>
  Title: Principal Executive Officer <br>
  Date: November 23, 2004</FONT>
</P>
<P>
  <FONT face="serif">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Henry Gabbay<BR>
  _____________________________________________________________________<BR>
  Name: Henry Gabbay <br>
  Title: Principal Financial Officer <br>
  Date: November 23, 2004</FONT>
</P>

<p></P>
<HR noshade align="center" width="100%" size=2>

</BODY>

</HTML>


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>c34268_ex99cert.htm
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 3.2 FINAL//EN">


<HTML>
<HEAD>
   <TITLE>34238</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">

  <div align="right"><B><FONT face="serif">EX- 99.CERT</FONT></B>
      <p></P>
</div>
  <P align="center">
  <B><FONT face="serif">CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER </FONT></B></P>
<P align="center">
  <B><U><FONT face="serif">CERTIFICATIONS</FONT></U></B> </P>
<P>
  <FONT face="serif">I, Robert S. Kapito, certify that: </FONT>
</P>
<TABLE>
<TR>
   <TD valign="top"><FONT face="serif">1.</FONT>&nbsp;<FONT face="serif">I have reviewed this report on Form N-Q of BlackRock Global Floating Rate Income Trust;</FONT> <br>
    <br></TD>
  </tr>
<tr>
   <td valign="top"><FONT face="serif">2.</FONT>&nbsp;<FONT face="serif">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><br>
<BR>   </td>
  </tr>
<tr>
   <td valign="top"><FONT face="serif">3.</FONT>&nbsp;<FONT 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><br>
<BR>   </td>
  </tr>
<tr>
   <td valign="top"><FONT face="serif">4.</FONT>&nbsp;<FONT face="serif">The registrant'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><br>
<BR>   </td>
  </tr>
<tr>
   <td valign="top"><FONT face="serif">(a) 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><br>
<BR></td>
</tr>
<tr>
   <td valign="top"><FONT face="serif">(b) [Not applicable prior to the first report on Form N-Q following the first annual report on Form N-CSR for a fiscal year ending on or after November 15, 2004];</FONT><br>
    <BR>   </td>
</tr>
<tr>
   <td valign="top"><FONT face="serif">(c) Evaluated the effectiveness of the registrant'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><br>
<BR></td>
</tr>
<tr>
   <td valign="top"><FONT face="serif">(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or
is reasonably likely to materially affect, the registrant's internal control over financial reporting; and</FONT><br>
<BR></td>
</tr>
<tr>
   <td align="left" valign="top"> <div align="left"></div><FONT face="serif">
    5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing
  the equivalent functions):</FONT><br>
  <br>
  <BR>
    </td>
  </tr>
<tr>
  <td align="left" valign="top"><font face="serif">(a) All significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and <br>
    <br>
  </font> </td>
</tr>
<tr>
  <td align="left" valign="top"><font face="serif">(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls over financial reporting. <br>
  </font> </td>
</tr>
</TABLE>

<P><FONT face="serif">Date:  November 23, 2004<BR>
  _____________________<BR>
</FONT>
<FONT face="serif"></FONT></P>
<table width="100%"  border="0">
  <tr>
    <td width="68%">&nbsp;</td>
    <td width="32%">      <div align="left"><font face="serif">/s/ Robert S. Kapito <br>
        ______________________________<br>
        Robert S. Kapito <br>
        Principal Executive Officer</font>
      </div></td>
  </tr>
</table>
<P>&nbsp;
</P>
<HR noshade align="center" width="100%" size=2>
<page>
<P align="right">&nbsp;</P>
<P align="center">
  <B><FONT face="serif">CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER </FONT></B></P>
<P align="center">
  <B><U><FONT face="serif">CERTIFICATIONS</FONT></U></B> </P>
<P>
  <FONT face="serif">I, Henry Gabbay, certify that: </FONT>
</P>
<TABLE>
<TR>
   <TD valign="top"><FONT face="serif">1.</FONT>&nbsp;<FONT face="serif">I have reviewed this report on Form N-Q of BlackRock Global Floating Rate Income Trust</FONT><FONT face="serif">;</FONT><br>
    <BR>   </TD>
  </tr>
<tr>
   <td valign="top"><FONT face="serif">2.</FONT> <FONT face="serif">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><br>
<BR>   </td>
  </tr>
<tr>
   <td valign="top"><FONT face="serif">3. </FONT><FONT 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><br>
<BR>   </td>
  </tr>
<tr>
   <td valign="top"><FONT face="serif">4.</FONT> <FONT face="serif">The registrant'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 controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</FONT><br>
<BR>   </td>
  </tr>
<tr>
   <td valign="top"><FONT face="serif">(a) 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><br>
<BR></td>
</tr>
<tr>
   <td valign="top"><FONT face="serif">(b) Not applicable prior to the first report on Form N-Q following the first annual report on Form N-CSR for a fiscal year ending on or after November 15, 2004; and</FONT><br>
    <BR>   </td>
</tr>
<tr>
   <td valign="top"><FONT face="serif">(c) Evaluated the effectiveness of the registrant'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><br>
<BR></td>
</tr>
<tr>
   <td valign="top"><FONT face="serif">(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or
is reasonably likely to materially affect, the registrant's internal control over financial reporting; and</FONT><br>
<BR></td>
</tr>
<tr>
   <td valign="top"><FONT face="serif">5.</FONT> &nbsp;<FONT face="serif">The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing
the equivalent functions):</FONT><br>
<BR>   </td>
  </tr>
<tr>
  <td valign="top"><font face="serif">(a) All significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and <br>
    <br>
  </font></td>
</tr>
<tr>
  <td valign="top"><font face="serif">(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls over financial reporting. <br>
  </font></td>
</tr>
</TABLE>

<P>&nbsp;
</P>
<P>&nbsp;
</P>
<P>
  <FONT face="serif">Date: November 23, 2004<BR>
  _____________________<BR>
  </FONT>
<FONT face="serif"> 	 </FONT></P>
<table width="100%"  border="0">
  <tr>
    <td width="68%">&nbsp;</td>
    <td width="32%"><div align="left"><font face="serif">/s/ Henry Gabbay<br>
        ______________________________<br>
        Henry Gabbay<br>
        Principal Financial Officer</font></div></td>
  </tr>
</table>
<P>&nbsp;
</P>
<HR noshade align="center" width="100%" size=2>

</BODY>

</HTML>


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
