-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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<SEC-DOCUMENT>0000930413-05-003981.txt : 20050611
<SEC-HEADER>0000930413-05-003981.hdr.sgml : 20050611
<ACCEPTANCE-DATETIME>20050527142359
ACCESSION NUMBER:		0000930413-05-003981
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050331
FILED AS OF DATE:		20050527
DATE AS OF CHANGE:		20050527
EFFECTIVENESS DATE:		20050527

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:		05863261

	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>c37097_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;March 31, 2005 <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 unaudited 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></font><font size="4"><b>(Unaudited)</b></font><font size="3"><b><br>
MARCH 31, 2005</b></font>
<hr noshade size=3>
<p><font size="3"><b> BlackRock Global Floating Rate Income Trust (BGT)</b></font>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center></td>
    <td>&nbsp;</td>
    <td align=center>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Principal</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Amount</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Rating</b><sup><b>1</b></sup></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>(000)</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Description</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right><center>
        <font size="2"><b>Value</b></font>
    </center></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td colspan="12" ><hr size="1" noshade>
    </td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>LONG-TERM INVESTMENTS&#151;157.8%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Corporate Bonds&#151;20.1%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Automotive&#151;0.4%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">B-</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">$ 125<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
    <td align=left><font size="2">Accuride Corp., 8.50%, 2/01/15 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">$ 122,188</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">820</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Arvinmeritor, Inc., 8.75%, 3/01/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">856,900</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">30<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">Cooper-Standard Automotive, Inc., 7.00%, 12/15/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">27,375</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B2</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Delco Remy Intl., Inc., 6.66%, 4/15/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">753,750</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">40</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Delphi Corp., 6.50%, 5/01/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">35,900</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">20</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Dura Operating Corp., Ser. B, 8.625%, 4/15/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">18,500</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">40</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Goodyear Tire &amp; Rubber Co., 7.857%, 8/15/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">39,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B3</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">150<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">Metaldyne Corp., 10.00%, 11/01/13 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">138,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,991,613</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Basic Materials&#151;1.0%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">BB-</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">90</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Abitibi-Consolidated, Inc., 8.375%, 4/01/15
        (Canada) </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">87,300</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">390<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">Boise Cascade LLC, 5.535%, 10/15/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">394,875</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">455<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">Crystal Holdings 3 LLC/Crystal Sub. 3 Corp.,
        9.625%, 6/15/14 (Luxembourg) </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">518,700</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">70</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Donohue Forest Products, 7.625%, 5/15/07 (Canada) </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">70,350</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">40</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Gold Kist, Inc., 10.25%, 3/15/14 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">45,800</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">Ba3</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Hercules, Inc., 6.75%, 10/15/29 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">735,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Huntsman Intl., LLC, 9.875%, 3/01/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">806,250</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">225</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Intl. Steel Group, Inc., 6.50%, 4/15/14 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">229,500</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Lyondell Chemical Co.,</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">300</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;11.125%, 7/15/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">343,500</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">300</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Ser. A, 9.625%, 5/01/07 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">321,750</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Nalco Co., 8.875%, 11/15/13 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">804,375</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B1</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">70<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">Novelis, Inc., 7.25%, 2/15/15 (Canada) </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">68,950</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">100<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">PQ Corp., 7.50%, 2/15/13 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">100,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Tembec Industries, Inc. (Canada)</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">130</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;7.75%, 3/15/12</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">117,975</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">25</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;8.50%, 2/01/11</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">23,688</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,668,013</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Building &amp; Development&#151;0.3%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">B+</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">Ainsworth Lumber Co. Ltd., 6.84%, 10/01/10
        (Canada) </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,015,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">240<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">Goodman Global Holding Co., Inc., 7.875%, 12/15/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">220,800</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,235,800</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Conglomerates&#151;0.2%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">B-</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Trimas Corp., 9.875%, 6/15/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">761,250</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Consumer Products&#151;0.5%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">B3</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">45</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">ALH Finance LLC, 8.50%, 1/15/13 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">44,374</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Duane Reade, Inc., </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B2</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">&nbsp;&nbsp;7.51%, 12/15/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">983,750</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">CCC+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">80</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;9.75%, 8/01/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">70,400</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">120</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Finlay Fine Jewelry Corp., 8.375%, 6/01/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">111,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">400</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Lazy Days RV Center, Inc., 11.75%, 5/15/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">427,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">230<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">Levi Strauss &amp; Co., 7.73%, 4/01/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">226,263</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">200<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">Rite Aid Corp., 6.125%, 12/15/08 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">188,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,050,787</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Containers &amp; Packaging&#151;0.2%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Constar Intl., Inc., </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">110<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">&nbsp;&nbsp;6.149%, 2/15/12</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">112,200</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">125</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;11.00%, 12/01/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">123,750</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Crown European Holdings SA, 10.875%, 3/01/13
        (France) </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">864,375</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,100,325</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Ecological Services &amp; Equipment&#151;0.1%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">BB-</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">625</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Allied Waste NA, Inc., Ser. B, 5.75%, 2/15/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">562,500</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
</table>
<p>
<p> <font size="2"></font>
<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>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center></td>
    <td>&nbsp;</td>
    <td align=center>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Principal</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Amount</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Rating</b><sup><b>1</b></sup></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>(000)</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Description</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right><center>
        <font size="2"><b>Value</b></font>
    </center></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td colspan="12" ><hr size="1" noshade>
    </td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2"></font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Energy&#151;8.5%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">BB</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">$ 750<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">AES Corp., 9.00%, 5/15/15 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">$ 825,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Compton Petroleum Corp., Ser. A, 9.90%, 5/15/09
        (Canada) </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">810,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Edison Mission Energy, 10.00%, 8/15/08 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">832,500</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750<sup> </sup></font></td>
    <td><font size="2"><sup>3</sup></font></td>
    <td align=left><font size="2">El Paso Production Holding Co., 7.75%, 6/01/13 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">757,500</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B1</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Foundation Pennsylvania Coal Company, 7.25%,
        8/01/14 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">774,375</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">14,430</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Gazprom, 9.625%, 3/01/13 (Russia) </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">16,461,744</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Hanover Compressor Co., 9.00%, 6/01/14 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">810,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">730</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">KCS Energy, Inc., 7.125%, 4/01/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">737,300</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B1</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">587<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">NRG Energy, Inc., 8.00%, 12/15/13 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">622,220</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Pemex Project Funding Master Trust</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">Baa1</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">800<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">&nbsp;&nbsp;9.375%, 12/02/08 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">902,800</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">Baa1</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">12,700</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Ser. 15, 4.46%, 10/15/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">13,315,947</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Reliant Energy, Inc., </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">250</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;6.75%, 12/15/14 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">233,125</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;9.25%, 7/15/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">802,500</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">300</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Swift Energy Co., 7.625%, 7/15/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">312,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">38,197,011</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Entertainment &amp; Leisure&#151;0.2%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">BB+</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">MGM Mirage, 5.875%, 2/27/14 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">708,750</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">40<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">Wynn Las Vegas LLC, 6.625%, 12/01/14 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">38,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">746,750</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Financial Institutions&#151;3.0%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">BB</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">140<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
    <td align=left><font size="2">American Real Estate Partners, 7.125%, 2/15/13 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">137,200</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Crum &amp; Forster Holdings Corp., 10.375%,
        6/15/13 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">840,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">Baa2</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">General Motors Acceptance Corp., 3.56%, 1/16/07</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,864,640</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,455</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Kazkommerts Intl. BV, 8.50%, 4/16/13 (Netherlands) </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,524,824</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">Baa2</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,000<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">Kazkommertsbank Intl. BV, 8.50%, 4/16/13 (Netherlands) </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,022,500</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BBB</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">25</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Marsh &amp; McLennan Cos., Inc., 2.77%, 7/13/07 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">24,849</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">Rainbow National Services LLC, 8.75%, 9/01/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">806,250</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">300<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">Universal City Florida Holding Co., 7.493%,
        5/01/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">313,500</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">13,533,763</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Health Care&#151;0.5%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">B-</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">IASIS Healthcare LLC, 8.75%, 6/15/14 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">780,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B3</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">90</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Insight Health Services Corp., Ser. B, 9.875%,
        11/01/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">88,425</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Tenet Healthcare Corp., </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">30</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;6.375%, 12/01/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">27,750</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">50</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;9.875%, 7/01/14 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">51,875</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">650</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Universal Hospital Services, Inc., 10.125%,
        11/01/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">663,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B2</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">US Oncology, Inc., 9.00%, 8/15/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">787,500</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,398,550</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Industrials&#151;0.7%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">B-</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">400</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Cenveo Corp., 7.875%, 12/01/13 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">357,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">705<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">DI Finance/Dyn Corp. Intl., 9.50%, 2/15/13 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">708,525</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">330<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">Hexcel Corp., 6.75%, 2/01/15 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">318,450</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">125<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">Hydrochem Industrial Services, 9.25%, 2/15/13 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">125,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">555<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">Knowledge Learning Corp., Inc., 7.75%, 2/01/15 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">535,575</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">CCC+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">350<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">Park Ohio Industries, Inc., 8.375%, 11/15/14 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">330,750</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">United Rentals NA, Inc., 7.00%, 2/15/14 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">688,125</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,063,425</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Media&#151;1.0%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">B</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">250</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Cablecom, 4.90%, 4/30/12 (Luxembourg)</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">324,312</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">CCC+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Charter Communications Holdings II LLC, 10.25%,
        9/15/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">770,625</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">350<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">Choctaw Resort Development Enterprise, 7.25%,
        11/15/19 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">346,500</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Echostar DBS Corp., 6.375%, 10/01/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">736,875</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">70<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">Nexstar Finance, Inc., 7.00%, 1/15/14 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">66,150</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Primedia, Inc., 7.625%, 4/01/08 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">755,625</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B2</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">40<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">Radio One, Inc., 6.375%, 2/15/13 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">38,900</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,550<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">WMG Holdings Corp., 7.385%, 12/15/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,588,750</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,627,737</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td colspan="12" align=left><HR noshade size=1></td>
  </tr>
</table>
<p>
<p>
<p>
<p align='center'>2
<HR noshade size=4>
<PAGE>
<p>
<hr noshade size=1>
<hr noshade size=3>
<p><font size="3"><b> BlackRock Global Floating Rate Income Trust (BGT) (continued)</b></font>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center></td>
    <td>&nbsp;</td>
    <td align=center>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Principal</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Amount</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Rating</b><sup><b>1</b></sup></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>(000)</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Description</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right><center>
        <font size="2"><b>Value</b></font>
    </center></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td colspan="12" ><hr size="1" noshade>
    </td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Real Estate&#151;1.3%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">BB+</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">$ 6,350<sup> </sup></font></td>
    <td><font size="2"><sup>3</sup></font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
    <td align=left><font size="2">Rouse Co., 5.375%, 11/26/13 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">$ 6,039,041</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Technology&#151;0.2%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">B</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Celestica, Inc., 7.875%, 7/01/11 (Canada) </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">761,250</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">140</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Superior Essex Communications LLC, 9.00%, 4/15/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">142,100</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">903,350</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Telecommunications&#151;1.7%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Cincinnati Bell, Inc., </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">775</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;7.25%, 7/15/13 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">771,125</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;8.375%, 1/15/14 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">492,500</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Dobson Cellular Systems, Inc., </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B2</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">325<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">&nbsp;&nbsp;7.493%, 11/01/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">333,125</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B2</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">350<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">&nbsp;&nbsp;8.375%, 11/01/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">357,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Intelsat Ltd. (Bermuda)</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">75</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;5.25%, 11/01/08 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">68,813</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">400<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">&nbsp;&nbsp;7.805%, 1/15/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">406,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">150<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">&nbsp;&nbsp;8.25%, 1/15/13 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">150,375</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">275<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">&nbsp;&nbsp;8.625%, 1/15/15 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">281,188</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">40</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Qwest Capital Funding, Inc., 6.875%, 7/15/28 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">31,100</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,350<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">Qwest Communications Intl., Inc., 6.294%, 2/15/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,350,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Qwest Corp., </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">&nbsp;&nbsp;7.875%, 9/01/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">774,375</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">895<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">&nbsp;&nbsp;14.00%, 12/15/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,033,725</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">400</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Rogers Wireless Communications, Inc., 6.135%,
        12/15/10 (Canada) </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">406,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">CCC</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">110</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Rural Cellular Corp., 9.875%, 2/01/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">111,100</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">115<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">Zeus Special Subsidiary Ltd., zero coupon,
        2/01/15 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">72,163</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">7,638,589</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Transportation&#151;0.3%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">B3</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">400<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">Horizon Lines LLC, 9.00%, 11/01/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">430,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">OMI Corp., 7.625%, 12/01/13 (Marshall Islands) </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">780,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,210,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Total Corporate Bonds</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">90,728,504</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Bank Loans&#151;106.7%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Aerospace &amp; Defense&#151;2.3%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,985</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">CACI Intl., Inc., Term Loan, LIBOR + 1.50%,
        2/04/07 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,022,274</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Camp Industries, Term Loan A,</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">992</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 3.25%, 8/30/11</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">991,935</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">8</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 2.25%, 8/30/11</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">8,065</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Dyncorp, Inc., Term Loan B, LIBOR + 2.75%,
        1/31/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,009,583</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Hexcel Corp, Term Loan B,</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">447</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 2.00%, 2/28/12</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">453,380</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">215</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;PRIME + 0.75%, 2/28/12</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">217,741</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">MRO Acquisition LLC, Term Loan, LIBOR + 5.25%,
        9/15/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,033,750</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,492</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Standard Aero, Inc., Term Loan, LIBOR + 2.50%,
        8/18/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,526,576</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">10,263,304</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Automotive&#151;2.6%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Polar Corp., Term Loan TBD, 5/30/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,776,250</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,993</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Progressive Moulded Products, Ltd., Term Loan
        B, LIBOR + 2.50%, 8/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,842,875</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">TI Automotive Ltd., Term Loan C, LIBOR + 3.25%,
        6/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,977,500</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">TRW Automotive Acquisitions Corp.,</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,496</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan B, LIBOR + 1.50%, 6/30/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,509,966</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,494</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan E, LIBOR + 1.50%, 10/31/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,517,128</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">11,623,719</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Basic Materials&#151;12.2%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,985</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Appleton Papers, Inc., Term Loan, LIBOR + 2.25%,
        6/30/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,019,516</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,761</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Boise Cascade Corp., Term Loan B, LIBOR + 2.25%,
        10/31/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,809,218</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">800</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Buckeye Technologies, Inc., Term Loan, LIBOR
        + 2.50%, 4/15/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">811,130</font></td>
    <td>&nbsp;</td>
  </tr>
</table>
<p>
<p> <font size="2"></font>
<p>
<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>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center></td>
    <td>&nbsp;</td>
    <td align=center>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Principal</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Amount</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Rating</b><sup><b>1</b></sup></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>(000)</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Description</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right><center>
        <font size="2"><b>Value</b></font>
    </center></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td colspan="12" ><hr size="1" noshade>
    </td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2"></font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Basic Materials&#151;(cont&#146;d)</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
    <td align=left><font size="2">Celanese, Term Loan,</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">$ 383</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;0.75%, 4/06/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">$ 388,962</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,612</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 2.25%, 6/03/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,686,279</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Cognis, Term Loan, LIBOR + 4.75%, 11/15/13 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,078,334</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,638</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Foundation Coal Corp., Term Loan B, LIBOR +
        2.00%, 7/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,662,872</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">997</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Hercules, Inc., Term Loan B, LIBOR + 1.75%,
        4/07/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,009,956</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,707</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Huntsman Intl., LLC, Term Loan B, LIBOR + 3.00%,
        12/31/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,758,234</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Huntsman LLC, Term Loan, LIBOR + 3.00%, 3/30/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,588,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,992</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Innophos, Inc., Term Loan, LIBOR + 2.75%, 8/15/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,051,788</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,007</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Intermet Corp., Term Loan B, PRIME + 5.25%,
        3/31/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,992,344</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,824</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Invista, Term Loan B, LIBOR + 2.75%, 4/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,917,585</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,228</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Koch Cellulose, LLC, Term Loan, LIBOR + 2.25%,
        5/01/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,245,935</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">222</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Kraton Polymers, LLC, Term Loan B, LIBOR +
        2.75%, 12/15/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">225,717</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,831</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Nalco Co., Term Loan B, LIBOR + 2.00%, 11/04/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,941,665</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">PQ Corp., Term Loan, LIBOR + 2.00%, 2/28/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">507,813</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">975</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Professional Paint, Inc., Term Loan, LIBOR
        + 3.25%, 9/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">988,406</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,990</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Ripplewood Phosphorus US, LLC, Term Loan, LIBOR
        + 3.00%, 7/16/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,019,850</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">6,500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Rockwood Specialties Group, Inc., Term Loan
        D, LIBOR + 2.25%, 8/15/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">6,630,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,417</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Rollcoater, Term Loan, LIBOR + 3.25%, 11/30/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,407,603</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">54,741,207</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Building &amp; Development&#151;2.9%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Juno Lighting, Inc., Term Loan, LIBOR + 5.50%,
        5/10/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,045,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Landsource Communities Development, LLC, Term
        Loan B, LIBOR + 2.50%, 3/31/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,022,500</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Nortek, Inc., Term Loan, </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">993</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 2.25%, 8/24/11</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,006,147</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;PRIME + 1.25%, 8/24/11</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,534</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,408</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Ply Gem Industries, Inc., Term Loan, LIBOR
        + 2.50%, 2/12/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,468,480</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,494</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Resolution Specialty Materials, Term Loan,
        LIBOR + 2.75%, 8/15/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,518,687</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">13,063,348</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Business Equipment &amp; Services&#151;0.2%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Latham Intl. Ltd., Term Loan, LIBOR + 4.00%,
        12/31/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,006,250</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Conglomerates&#151;4.2%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Atlantis Plastics, Inc., </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan B, PRIME + 0.75%, 9/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,012,500</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan C, PRIME + 5.25%, 9/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,015,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Fidelity National, Term Loan, LIBOR + 1.75%,
        3/30/13 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,006,250</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Gentek Corp., Term Loan, LIBOR + 5.75%, 3/15/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">502,084</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Honeywell Security Group, Term Loan B, </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,474</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 4.00%, 6/28/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,525,856</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">9</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;PRIME + 3.00%, 6/28/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">8,882</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Invesys Intl. Holdings Ltd., </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan, LIBOR, 3/05/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,980,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan, LIBOR + 4.75%, 11/30/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,052,500</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">984</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan B1, LIBOR + 3.50%, 8/30/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,001,076</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">NDC Health, Term Loan, LIBOR + 4.00%, 11/04/08 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,010,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,571</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Polypore, Inc., Term Loan, LIBOR + 2.25%, 11/15/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,600,176</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">18,714,324</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Consumer Products&#151;15.0%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Berkline/BenchCraft Holdings, LLC,</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan, PRIME + 6.75%, 4/30/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,015,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan B, LIBOR, 10/31/11</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,990,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">998</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Carrols Corp., Term Loan, LIBOR + 2.50%, 12/31/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,016,619</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">748</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Central Garden &amp; Pet Co., Term Loan, LIBOR
        + 1.75%, 5/30/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">755,590</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,587</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Church &amp; Dwight Co., Inc., Term Loan B,
        LIBOR + 1.75%, 5/31/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,607,948</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,472</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">CKE Restaurants, Inc., Term Loan, LIBOR + 2.50%,
        5/17/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,501,775</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,977</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Coinmach Service Corp., Term Loan B, LIBOR
        + 3.00%, 7/30/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,000,335</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,662</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Constellation Brands, Inc., Term Loan B, LIBOR
        + 1.75%, 12/31/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,687,516</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Culligan Water Co., Term Loan B, LIBOR + 2.75%,
        10/15/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">762,500</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,993</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Delaware Labs, Term Loan B, LIBOR + 2.25%,
        10/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,026,166</font>
    <td>&nbsp;</td>
</table>
<p>
<p> <font size="2"></font>
<p>
<p align='center'>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>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center></td>
    <td>&nbsp;</td>
    <td align=center>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Principal</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Amount</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Rating</b><sup><b>1</b></sup></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>(000)</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Description</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right><center>
        <font size="2"><b>Value</b></font>
    </center></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td colspan="12" ><hr size="1" noshade>
    </td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2"></font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Consumer Products&#151;(cont&#146;d)</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">$ 3,500</font></td>
    <td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
    <td align=left><font size="2">Denny&#146;s Corp., Term Loan, LIBOR, 8/25/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">$ 3,613,750</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Desa LLC, Term Loan, LIBOR + 3.00%, 12/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,925,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">995</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Doane Pet Care Co., Term Loan, LIBOR + 4.00%,
        11/15/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,009,925</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Fender Musical Instruments Corp., Term Loan,
        PRIME + 3.50%, 9/30/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">505,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Herbalife Intl., Inc., Term Loan, LIBOR + 2.25%,
        12/31/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">508,125</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Jarden Corp., Term Loan, LIBOR + 2.00%, 1/15/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,518,438</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Knoll, Inc., Term Loan, </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,751</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 3.00%, 10/15/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,770,282</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">9</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;PRIME + 2.00%, 10/15/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">9,518</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">998</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Landrys Restaurants, Term Loan B, LIBOR + 1.75%,
        12/31/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,012,463</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Language Line, Inc., Term Loan B,</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,889</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 4.25%, 6/14/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,922,885</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">32</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;PRIME + 3.25%, 6/14/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">31,944</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Maidenform, Inc., Term Loan, </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">293</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 2.75%, 5/14/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">296,183</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">590</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 7.50%, 5/11/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">601,800</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,944</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">National Bedding Co., LLC, Term Loan B, LIBOR
        + 2.25%, 8/25/08 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,977,280</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Olympus Cable Holdings, LLC, Term Loan B, PRIME
        + 2.00%, 9/30/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,467,734</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Oreck Corp., Term Loan B, LIBOR + 2.75%, 1/31/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,016,250</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Oriental Trading Co., Inc.,</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan, LIBOR&nbsp;+&nbsp;4.75%,
        1/08/11</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">758,906</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan, LIBOR + 4.75%, 12/02/10</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,403</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan B, LIBOR + 2.50%, 8/06/10</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,402,813</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">19</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan B, PRIME + 1.50%, 8/06/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">19,211</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,486</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">OSI Group LLC, Term Loan B, LIBOR + 2.50%,
        9/15/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,559,398</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,730</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Pierre Foods, Inc., Term Loan B, LIBOR + 2.75%,
        7/15/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,769,812</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Prestige Brands Holdings, Inc., Term Loan B,</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,980</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 2.25%, 4/07/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,009,700</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;PRIME + 1.25% , 4/07/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,075</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">988</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Propex Fabrics, Inc., Term Loan, LIBOR + 2.25%,
        12/31/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">992,438</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">R.H. Donnelley, Inc., </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">634</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan A3, LIBOR + 1.75%, 6/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">643,633</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,165</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan D, LIBOR + 1.75%, 12/31/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,199,689</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Rayovac, Term Loan, LIBOR + 2.00%, 1/31/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,017,500</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,985</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Rite Aid Corp., Term Loan, LIBOR + 1.75%, 9/15/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,005,522</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Travel Centers of America, Inc., Term Loan
        C, LIBOR + 1.75%, 11/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,007,500</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">United Subcontractors, Inc., Term Loan, </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,990</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 3.25%, 4/21/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,039,875</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 7.00%, 10/21/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">510,312</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">67,491,410</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Containers &amp; Packaging&#151;4.7%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,715</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Berry Plastics Corp., Term Loan C, LIBOR +
        2.00%, 3/11/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,758,950</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">FlexSol Packaging Corp., Term Loan,</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 3.25%, 11/30/11</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,001,250</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 7.00%, 11/30/12</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,007,500</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Graham Packaging Co., Inc., </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">6,484</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan B, LIBOR + 2.50%, 10/01/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">6,610,183</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan C, LIBOR + 4.25%, 4/01/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,059,166</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,576</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Graphic Packaging Intl., Inc., Term Loan C,
        LIBOR + 2.50%, 8/08/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,636,358</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Smurfit Stone Containter Corp., Term Loan B,
        LIBOR + 2.00%, 11/01/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,018,333</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,977</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Solo Cup Co., Term Loan, LIBOR + 2.50%, 2/27/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,019,127</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">21,110,867</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Ecological Services &amp; Equipment&#151;1.3%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Allied Waste NA, Inc., Term Loan, LIBOR + 2.00%,
        3/31/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,016,800</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Envirosolutions, Inc., Term Loan,</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">222</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;2.00%, 2/28/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">221,264</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,778</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 4.50%, 2/28/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,768,735</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">6,006,799</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
</table>
<p>
<p> <font size="2"></font>
<p>
<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>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center></td>
    <td>&nbsp;</td>
    <td align=center>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Principal</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Amount</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Rating</b><sup><b>1</b></sup></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>(000)</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Description</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right><center>
        <font size="2"><b>Value</b></font>
    </center></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td colspan="12" ><hr size="1" noshade>
    </td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2"></font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Energy&#151;4.1%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">$ 1,500</font></td>
    <td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
    <td align=left><font size="2">AES Corp., Term Loan, LIBOR + 1.75%, 4/30/08 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">$ 1,531,500</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,238</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Belden &amp; Blake Corp., Term Loan,</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,231</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 2.75%, 7/15/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,242,892</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">7</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;PRIME + 1.75%, 7/15/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">6,983</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Coleto Creek WLE LP, Term Loan C, LIBOR + 3.50%,
        8/05/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">510,209</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,990</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Dynegy Holdings, Inc., Term Loan, LIBOR + 4.00%,
        5/10/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,029,179</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">El Paso Corp.,</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan, LIBOR + 2.85%, 11/30/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">759,844</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,240</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan B, LIBOR + 2.75%, 11/30/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,256,275</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Mainline LP, Term Loan, LIBOR + 2.375%, 12/31/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">505,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Reliant Energy, Inc., Term Loan B, LIBOR +
        2.375%, 4/30/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,561,875</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Semgroup LP, Term Loan, PRIME + 1.75%, 2/28/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,515,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Texas Genco LLC, </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">585</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan, 1.25%, 12/15/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">592,410</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,412</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan, LIBOR + 2.00%, 12/15/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,430,670</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Trout Coal Holdings LLC, Term Loan, PRIME +
        4.00%, 3/31/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">510,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">998</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Universal Compression, Inc., Term Loan B, LIBOR
        + 1.75%, 1/15/15 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,011,527</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">18,463,364</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Entertainment &amp; Leisure&#151;8.0%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Blockbuster Entertainment Corp., Term Loan
        B, LIBOR + 2.50%, 8/20/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,006,250</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,990</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Boyd Gaming Corp., Term Loan B, LIBOR + 1.75%,
        5/14/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,016,742</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,920</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Greektown Casino, LLC, Term Loan D, LIBOR +
        3.50%, 12/31/05 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,929,531</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Kerasotes Theatres, Inc., Term Loan B, LIBOR
        + 2.25% 12/31/07</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,045,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,924</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Loews Cineplex Entertainment Corp., Term Loan
        B, LIBOR + 2.25%, 8/15/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,006,332</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">998</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Marina District Finance Co., Inc., Term Loan
        B, LIBOR + 4.50%, 10/15/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,009,138</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,995</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">MGM Mirage, Term Loan B, LIBOR + 2.50%, 4/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,993,753</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">928</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Penn National Gaming, Inc., Term Loan D, LIBOR
        + 2.50%, 9/01/07 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">930,572</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">998</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Universal City Development Partners LP, Term
        Loan B, LIBOR + 2.00%, 6/30/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,013,709</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,244</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Venetian Casino Resorts LLC, Term Loan B, LIBOR
        + 1.75%, 6/15/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,258,824</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,241</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Wallace Theaters, Term Loan, LIBOR + 3.25%,
        8/01/09 - 1/21/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,315,472</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Wyndham Intl., Inc., </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">6,152</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan I, LIBOR + 4.75%, 6/30/06 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">6,163,379</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,242</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan II, LIBOR + 5.75%, 4/01/06 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,243,339</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Wynn Las Vegas, LLC, Term Loan, LIBOR + 2.125%,
        12/31/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,068,751</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">36,000,792</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Financial Institutions&#151;2.4%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,872</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Global Cash Access, LLC, Term Loan, LIBOR +
        2.75%, 3/15/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,900,257</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,880</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Jostens, Inc., Term Loan C, LIBOR + 2.25%,
        10/15/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,939,818</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,615</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Refco Finance Holdings, LLC, Term Loan B, LIBOR,
        7/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,633,169</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Titan Corp., Term Loan B,</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,982</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 2.75%, 4/24/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,022,408</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;PRIME + 1.25%, 4/24/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,325</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">USI Holdings Corp., Term Loan B, PRIME + 1.50%,
        7/30/08 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">501,563</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">11,000,540</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Foreign Government&#151;1.2%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,689</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Kingdom of Morocco, Term Loan A, LIBOR + 2.50%,
        1/05/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,603,553</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Health Care&#151;10.8%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,975</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Accredo Health, Inc., Term Loan B, LIBOR +
        1.75%, 8/05/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,986,191</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,617</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Advanced Medical Optics, Term Loan B, LIBOR
        + 2.00%, 6/30/07 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,640,854</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,975</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Arizant, Inc., Term Loan, LIBOR + 3.75%, 8/15/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,989,906</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,431</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Community Health Systems, Inc., Term Loan,
        LIBOR + 1.75%, 8/15/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,499,267</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,846</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Concentra Operating Corp., Term Loan, LIBOR
        + 2.50%, 6/30/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,910,257</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Cooper Cos., Term Loan B, LIBOR + 1.75%, 11/15/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">759,062</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">HealthSouth Corp., Term Loan,</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR, 1/15/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,175,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 2.50%, 3/31/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,511,719</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,985</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">IASIS Healthcare Corp., Term Loan B, LIBOR
        + 2.25%, 6/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,029,775</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,736</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Jean Coutu Group, Inc., Term Loan B, LIBOR
        + 2.25%, 6/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,788,838</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,539</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Kinetic Concepts, Inc., Term Loan B-2, LIBOR
        + 1.75%, 8/05/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,571,218</font>
    <td>&nbsp;</td>
</table>
<p>
<p> <font size="2"></font>
<p>
<p align='center'>6
<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>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center></td>
    <td>&nbsp;</td>
    <td align=center>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Principal</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Amount</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Rating</b><sup><b>1</b></sup></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>(000)</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Description</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right><center>
        <font size="2"><b>Value</b></font>
    </center></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td colspan="12" ><hr size="1" noshade>
    </td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2"></font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Health Care&#151;(cont&#146;d)</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">$ 538</font></td>
    <td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
    <td align=left><font size="2">Medco Health Solutions, Term Loan A, LIBOR
        + 1.25%, 3/13/08 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">$ 539,808</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">998</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Pacificare Health Systems, Inc., Term Loan
        B, LIBOR + 1.50%, 12/15/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,007,164</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Select Medial Corp., Term Loan B, LIBOR + 1.75%,
        2/28/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,005,250</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,056</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">US Oncology, Inc., Term Loan, LIBOR + 2.75%,
        6/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,124,354</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,091</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Vanguard Health Systems, Term Loan, LIBOR +
        3.25%, 9/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,148,246</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Warner Chilcott, </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">530</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan, 0.50%, 1/18/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">535,003</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,184</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan B, LIBOR + 2.75%, 1/18/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,204,386</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">880</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan C, LIBOR + 2.75%, 1/18/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">888,260</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">406</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan D, LIBOR + 2.75%, 1/18/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">410,351</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">48,724,909</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Industrials&#151;1.4%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">594</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Alderwoods Group, Inc., Term Loan B2, LIBOR
        + 2.00%, 9/29/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">602,278</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">519</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Exide Technologies, Term Loan, LIBOR + 3.50%,
        5/01/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">524,125</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Novelis, Inc., Term Loan B, LIBOR + 1.75%,
        12/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,015,750</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Tinnerman Palnut Engineered Products, Inc.,
        Term Loan, LIBOR + 2.75%, 11/01/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,015,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,996</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Worldspan, LP, Term Loan, LIBOR + 2.75%, 6/30/07 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,998,050</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">6,155,203</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Media&#151;20.3%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Advertising Directory Solutions, </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">998</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan, LIBOR + 3.75%, 5/30/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,019,113</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,972</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan B, LIBOR + 2.00%, 11/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,975,965</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Alliance Atlantis, Term Loan B, LIBOR + 1.75%,
        11/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,030,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">American Lawyers Media, Inc., Term Loan,</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">108</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;0.50%, 3/15/10</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">108,849</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">642</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;PRIME + 1.50%, 3/15/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">646,776</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,990</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Bragg Communication, Term Loan B, LIBOR + 2.50%,
        9/15/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,019,850</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Bresnan Communications LLC, Term Loan B, LIBOR
        + 3.50%, 9/30/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,014,688</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Century TCI California LP, </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan, PRIME + 0.75%, 12/31/07 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,994,520</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan, PRIME + 2.00%, 12/31/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,964,285</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan B, TBD, 12/31/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,964,285</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Charter Communications Operating, LLC, </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">6,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan A, LIBOR + 3.00%, 4/27/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">6,026,784</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,990</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan B, LIBOR + 3.25%, 4/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,998,883</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,740</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Dex Media East, LLC, Term Loan B, LIBOR + 1.75%,
        12/31/08 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,798,791</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Dex Media West, LLC, </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,139</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan A, LIBOR + 2.00%, 9/10/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,154,183</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,796</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan B, LIBOR + 1.75%, 9/01/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,823,422</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,995</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Emmis Operating Co., Term Loan B, LIBOR, 5/15/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,019,660</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Freedom Communications, Inc., Term Loan, LIBOR
        + 1.75%, 4/04/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,827,188</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Insight Midwest Holdings, LLC, </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,681</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan A, LIBOR + 1.50%, 6/30/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,688,897</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">997</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan B, LIBOR + 2.75%, 1/06/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,015,145</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,474</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Media News, Term Loan C, LIBOR + 1.50%, 8/25/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,492,567</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,277</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Mediacom Communications Corp., Term Loan A,
        LIBOR + 1.25%, 3/31/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,266,522</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,995</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Mediacom Illinois LLC, Term Loan B, LIBOR +
        2.25%, 3/31/13 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,028,043</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">698</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">NEP Supershooters LP, Term Loan, LIBOR + 4.00%,
        2/01/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">711,342</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,614</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">New Skies Satellites, Term Loan B, LIBOR +
        2.50%, 4/12/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,633,407</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Nexstar Broadcasting, Inc., </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan B, LIBOR + 1.75%, 8/14/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,025,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,985</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan D, PRIME + 0.50%, 12/31/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,985,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">NTL Investment Holding Ltd., Term Loan B, LIBOR
        + 3.00%, 4/13/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,081,250</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Raycom Media, Inc., Term Loan B, LIBOR + 1.75%,
        4/01/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,531,250</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Transwestern Publishing Co., Term Loan,</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 2.25%, 2/25/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,504,376</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,987</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 4.50%, 2/25/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,016,095</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">UPC Financing Partnership, Term Loan H, LIBOR
        + 2.75%, 10/30/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,010,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,977</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Warner Music Group Corp., Term Loan B, LIBOR
        + 2.50%, 4/08/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,998,533</font>
    <td>&nbsp;</td>
</table>
<p>
<p> <font size="2"></font>
<p>
<p align='center'>7
<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>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center></td>
    <td>&nbsp;</td>
    <td align=center>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Principal</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Amount</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Rating</b><sup><b>1</b></sup></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>(000)</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Description</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right><center>
        <font size="2"><b>Value</b></font>
    </center></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td colspan="12" ><hr size="1" noshade>
    </td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2"></font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Media&#151;(cont&#146;d)</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Western Wireless Corp., </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">$ 5,773</font></td>
    <td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan A, LIBOR + 2.25%, 5/28/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">$ 5,783,388</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,985</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan B, LIBOR + 3.00%, 5/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,000,546</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">91,158,603</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Publishing&#151;0.2%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Endurance Business, Term Loan B, LIBOR + 2.75%,
        3/15/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">764,063</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Real Estate&#151;2.8%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Associated Materials, Inc., Term Loan, LIBOR
        + 2.25%, 4/19/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,017,500</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">General Growth Properties, </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,987</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan A, LIBOR + 2.25%, 11/12/07 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,013,164</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan B, LIBOR + 2.25%, 11/12/08 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,557,274</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Headwaters, Inc., Term Loan, </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,767</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 3.25%, 4/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,803,592</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">667</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 5.50%, 4/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">686,111</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Lake Las Vegas Resort, Term Loan,</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">850</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 2.50%, 10/13/09</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">863,865</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">78</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;PRIME, 10/13/09</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">78,974</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">489</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Stewart Enterprises, Term Loan B, LIBOR + 1.75%,
        11/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">496,564</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">12,517,044</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Technology&#151;2.7%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,916</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Directed Electronics, Inc., Term Loan, LIBOR
        + 4.25%, 3/15/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,955,666</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,767</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Knowles Electronics, Inc., Term Loan B2, LIBOR
        + 5.00%, 6/29/07 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,783,027</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,483</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">UGS Corp., Term Loan, LIBOR + 2.00%, 5/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,529,047</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,985</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Verifone, Inc., Term Loan B, LIBOR + 2.50%,
        6/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,999,925</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Westcom Corp., Term Loan B, LIBOR&nbsp;+&nbsp;2.75%,
        12/31/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,015,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">12,282,665</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Telecommunications&#151;6.6%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Alaska Communications Systems Holdings, Inc.,
        Term Loan, LIBOR + 2.00%, 1/31/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,014,688</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Atlantic Broadband Finance, LLC, Term Loan
        B1, LIBOR + 2.75%, 1/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,040,834</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,719</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Centennial Cellular Operating Co., Term Loan
        B, LIBOR + 2.25%, 2/09/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,800,484</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Fairpont Communications, Inc., Term Loan B,
        LIBOR + 2.00%, 2/15/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,013,250</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">998</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Intelsat Zeus, Ltd., Term Loan B, LIBOR + 1.75%,
        7/31/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,010,904</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Iowa Telecommunications Services, Inc., Term
        Loan B, LIBOR + 2.00%, 11/30/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,026,666</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Nextel Partners Operating Corp., Term Loan
        C, LIBOR + 2.50%, 5/18/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,028,334</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">750</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Ntelos, Inc., Term Loan, LIBOR + 2.50%, 2/24/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">755,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">PanAmSat Corp., </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,312</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan A, LIBOR + 2.50%, 8/20/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,319,640</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">373</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan A, PRIME + 2.50%, 8/20/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">375,469</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,647</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Term Loan B, LIBOR + 2.50%, 7/16/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,671,703</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Qwest Corp., Term Loan A, LIBOR + 4.75%, 6/30/07 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,164,845</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Triton PCS, Inc., Term Loan, LIBOR + 3.75%,
        11/15/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,581,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Valor Telecommunications LLC, Term Loan B,</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">533</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;LIBOR + 2.00%, 2/28/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">541,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,454</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;PRIME + 1.00%, 2/28/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,474,225</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">29,818,042</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Transportation&#151;0.8%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Sirva Worldwide, Inc., Term Loan, LIBOR + 2.00%,
        12/31/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,457,813</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,082</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Transport Industries, LP, Term Loan, LIBOR
        + 4.00%, 6/14/10 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">1,081,651</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,539,464</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Total Bank Loans</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">480,049,470</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Foreign Government Bonds&#151;31.0%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">B</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">8,714</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Bolivarian Republic of Venezuela, 3.625%, 6/20/05 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">8,670,310</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Federative Republic of Brazil, </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">NR</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">14,400</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;3.125%, 4/15/05 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">13,733,737</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">NR</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">10,696</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;8.00%, 4/15/14 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">10,588,692</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">9,435<sup> </sup></font></td>
    <td><font size="2"><sup>3</sup></font></td>
    <td align=left><font size="2">&nbsp;&nbsp;8.84%, 6/29/09</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">10,520,025</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,400</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;Ser. B, 10.00%, 8/07/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,580,000</font></td>
    <td>&nbsp;</td>
  </tr>
</table>
<p>
<p> <font size="2"></font>
<p>
<p align='center'>8
<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>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr valign=top>
    <td width="0%" >&nbsp;</td>
    <td width="1%">&nbsp;</td>
    <td width="5%" align=center></td>
    <td width="1%">&nbsp;</td>
    <td width="8%" align=center>&nbsp;</td>
    <td width="2%">&nbsp;</td>
    <td width="72%" align=center>&nbsp;</td>
    <td width="1%">&nbsp;</td>
    <td width="0%" align=right>&nbsp;</td>
    <td width="1%">&nbsp;</td>
    <td width="8%" align=right></td>
    <td width="1%">&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Principal</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Amount</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Rating</b><sup><b>1</b></sup></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>(000)</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>Description</b></font></td>
    <td>&nbsp;</td>
    <td align=right>&nbsp;</td>
    <td>&nbsp;</td>
    <td align=right><center>
        <font size="2"><b>Value</b></font>
    </center></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td colspan="12" ><hr size="1" noshade>
    </td>
  </tr>
  <tr valign=top>
    <td >&nbsp;</td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2"></font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Foreign Government Bonds&#151;(cont&#146;d)</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">NR</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">$ 1,600</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Islamic Republic of Pakistan, 6.75%, 2/19/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">$ 1,614,894</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">A-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">800<sup> </sup></font></td>
    <td><font size="2"><sup>3</sup></font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
    <td align=left><font size="2">Malaysia, 8.75%, 6/01/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">916,896</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">CCC+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Republic of Argentina, 3.01%, 8/03/05 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,943,500</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BBB-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">8,071</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Republic of Bulgaria, 3.75%, 7/28/05 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">8,107,750</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">A</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,400<sup> </sup></font></td>
    <td><font size="2"><sup>3</sup></font></td>
    <td align=left><font size="2">Republic of Chile, 6.875%, 4/28/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,594,112</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">7,665</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Republic of Colombia, 9.75%, 4/09/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">8,431,165</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">Ba1</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,200</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Republic of Costa Rica, 9.335%, 5/15/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,512,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,400</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Republic of Ecuador, 12.00%, 11/15/12 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,394,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">800</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Republic of El Salvador, 9.50%, 8/15/06 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">846,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Republic of Panama, </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">Ba1</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">12,714</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;3.75%, 7/18/05 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">11,697,131</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">840</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;8.25%, 4/22/08 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">894,600</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Republic of Peru, </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,544</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;5.00%, 9/07/05 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,072,760</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,400</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;9.125%, 1/15/08 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,616,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">Baa1</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,400<sup> </sup></font></td>
    <td><font size="2"><sup>3</sup></font></td>
    <td align=left><font size="2">Republic of South Africa, 7.375%, 4/25/12</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"> </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,618,160</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,400</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Republic of the Philippines, 8.875%, 4/15/08 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,609,387</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,400</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Republic of Turkey, 12.00%, 12/15/08 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,852,400</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Republic of Venezuela, </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;3.693%, 4/22/05 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">3,540,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,535</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;4.313%, 9/30/05 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,507,683</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B+</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,800</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;9.125%, 6/18/07 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,088,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">B</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">&nbsp;&nbsp;11.00%, 3/05/08 EUR</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,950,658</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Ukraine, </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">8,100<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">&nbsp;&nbsp;6.365%, 8/05/05 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">8,674,290</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">BB-</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,800<sup> </sup></font></td>
    <td><font size="2"><sup>2</sup></font></td>
    <td align=left><font size="2">&nbsp;&nbsp;6.875%, 3/04/11 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">2,874,200</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">Baa1</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,800</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">United Mexican States, 3.33%, 1/13/09 </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">4,850,400</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Total Foreign Government Bonds</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">139,298,750</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Total Long-Term Investments (cost $705,897,970)</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">710,076,724</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>SHORT-TERM INVESTMENTS&#151;1.5%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>U.S. Government and Agency Zero Coupon Bonds&#151;0.1%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">500</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Federal Home Loan Bank, 4/01/05</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">500,000</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Foreign Government Bond&#151;1.4%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2"><b>&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td align=right></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">5,000</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">German Treasury Bill, 2.027%, 7/13/05 (EUR)</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">6,461,556</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Total Short-Term Investments (cost $7,150,837)</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">6,961,556</font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Total investments&#151;159.3% (cost $713,354,440</b><sup><b>4</b></sup>)</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">$717,038,280 </font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Liabilities in excess of other assets (includng
        $19,367,244 of payable for reverse repurchase agreements)&#151;(5.2)% </font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">(23,516,455</font></td>
    <td><font size="2">)</font></td>
  </tr>
  <tr valign=top>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2">Preferred shares at redemption value, including
        dividends payable&#151;(54.1)%</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">(243,496,357</font></td>
    <td><font size="2">)</font></td>
  </tr>
  <tr valign=top>
    <td COLSPAN='12' ><HR noshade size=1></td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td align=left><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=center><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=left><font size="2"><b>Net Assets applicable to common shareholders&#151;100%</b></font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align=right><font size="2">$450,025,468 </font></td>
    <td>&nbsp;</td>
  </tr>
  <tr valign=top bgcolor='#DDDDDD'>
    <td COLSPAN='12' ><hr noshade size=3>
    </td>
  </tr>
</table>
<p>
<p>
<hr align="left" width="140" size="1">
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr valign="top">
    <td width="2%"><font size="2"><sup>1</sup></font></td>
    <td width="98%"><font size="2">Using the higher of Standard &amp; Poor&#146;s,
        Moody&#146;s Investors Service or Fitch&#146;s Rating. </font></td>
  </tr>
  <tr valign="top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr valign="top">
    <td><font size="2"><sup>2</sup></font></td>
    <td><font size="2">Security is not registered under the Securities Act of
        1933. These may be resold in transactions in accordance with Rule 144A
        under that Act, to qualified institutional buyers. As of March 31, 2005,
        the Trust held 7.4% of its nets assets, with a current market value of
        $33,366,112, in securities restricted as to resale. </font></td>
  </tr>
  <tr valign="top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr valign="top">
    <td><font size="2"><sup>3</sup></font></td>
    <td><font size="2">Entire or partial principal amount pledged as collateral
        for reverse repurchase agreements. </font></td>
  </tr>
  <tr valign="top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr valign="top">
    <td><font size="2"><sup>4</sup></font></td>
    <td><font size="2">&nbsp;Cost for Federal income tax purposes is $712,903,810.
        The net unrealized appreciation on a tax basis is $4,134,470 consisting
        of $6,424,965 gross unrealized appreciation and $2,290,495 gross unrealized
        depreciation. </font></td>
  </tr>
</table>
<p align='justify'><font size="2">&nbsp;<font size="2">A category in the Corporate
      Bonds and Bank Loans sections may contain multiple industries as defined
      by the SEC&#146;s Standard Industry Codes.</font></font>
<p>
<p>
<p>
<table width="50%" border="0" align="center" cellpadding="0" cellspacing="0">
  <tr valign=top>
    <td colspan="12" ><hr size="1" noshade>
    </td>
  </tr>
  <tr valign=top>
    <td align=left><center>
        <font size="2"><b><font size="2">KEY TO ABBREVIATIONS</font></b></font>
      </center>
  <tr>
    <td><font size="2"><font size="2">EUR&#151;European Monetary Unit</font></font></td>
  </tr>
  <tr>
    <td><font size="2"><font size="2">TBD&#151;To Be Determined</font></font></td>
  </tr>
  <tr>
    <td><hr size="1" noshade>
    </td>
  </tr>
</table>
<p>
<p>
<p>
<p align='center'>9
<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: May 27, 2005 </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: May 27, 2005 </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: May 27, 2005 </FONT></P>

<p></P>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>c37097_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:  May 27, 2005<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: May 27, 2005<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>
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