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<SEC-DOCUMENT>0000930413-08-000627.txt : 20080129
<SEC-HEADER>0000930413-08-000627.hdr.sgml : 20080129
<ACCEPTANCE-DATETIME>20080129105850
ACCESSION NUMBER:		0000930413-08-000627
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20071130
FILED AS OF DATE:		20080129
DATE AS OF CHANGE:		20080129
EFFECTIVENESS DATE:		20080129

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKROCK INSURED MUNICIPAL INCOME TRUST
		CENTRAL INDEX KEY:			0001181187
		IRS NUMBER:				816105962
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21178
		FILM NUMBER:		08556422

	BUSINESS ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		STREET 2:		MUTUAL FUND DEPARTMENT
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809
		BUSINESS PHONE:		888-825-2257

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

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK MUNICIPAL INCOME TRUST III
		DATE OF NAME CHANGE:	20020819
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>c51903_n-q.htm
<TEXT>

<HTML>
<HEAD>
   <TITLE></TITLE>
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<BODY bgcolor="#ffffff">


<P align="center">
<FONT face="serif">UNITED STATES </FONT><BR>
<FONT face="serif">SECURITIES AND EXCHANGE COMMISSION</FONT><BR>
<FONT face="serif">Washington, D.C. 20549 </FONT></P>
<P align="center">
<B><FONT face="serif">FORM N-Q</FONT></B></P>
<P align="center">
<B><FONT face="serif">QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED</FONT></B><BR>
<B><FONT face="serif">MANAGEMENT INVESTMENT COMPANY </FONT></B></P>
<P align="left">
<FONT size=2 face="serif">Investment Company Act file number 811-21178 </FONT></P>
<P align="left">
<FONT size=2 face="serif">Name of Fund: BlackRock Insured Municipal Income Trust (BYM)</FONT></P>
<P align="left">
<FONT size=2 face="serif">Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809 </FONT></P>
<div style="margin-left:45px;text-indent:-45px">
<P align="left">
<FONT size=2 face="serif">Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock Insured Municipal Income Trust, 800 Scudders Mill Road, Plainsboro, NJ, 08536.
<br>
Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011 </FONT></P>
</div>
<P align="left">
<FONT size=2 face="serif">Registrant&#146;s telephone number, including area code: (800) 882-0052, Option 4 </FONT></P>
<P align="left">
<FONT size=2 face="serif">Date of fiscal year end: 08/31/2008 </FONT><BR>
<BR>
<FONT size=2 face="serif">Date of reporting period: 09/01/2007 &#150; 11/30/2007</FONT></P>

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



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


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

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Insured Municipal Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of November 30, 2007 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(In Thousands)</FONT></B> </div></TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<B><FONT size=2 face="serif">Face</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">State</FONT></B>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp; </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Municipal Bonds</FONT></B>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
    <div align="center"><B><FONT size=2 face="serif">Value</FONT></B> </div></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Alabama - 0.7%</FONT></B>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">&#36;</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,800</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Jefferson County, Alabama, Limited Obligation School Warrants, Series A, 4.75% due 1/01/2025</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">&#36;</FONT>  </TD>
  <TD align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;2,819</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Arizona - 5.5%</FONT></B>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,500</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Downtown Phoenix Hotel Corporation, Arizona, Revenue Bonds, Senior Series A, 5% due 7/01/2040 (b)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,545</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">15,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Phoenix, Arizona, Civic Improvement Corporation, Excise Tax Revenue Bonds</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">(Civic Plaza Expansion Project), Sub-Series A, 5% due 7/01/2041 (b)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">15,438</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, 5% due 12/01/2037</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,832</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">California - 33.3%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Arcadia, California, Unified School District, Capital Appreciation, GO (Election of 2006), Series A,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4.96 % due 8/01/2039 (c)(i)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">392</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">10,100</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">California Infrastructure and Economic Development Bank, First Lien Revenue Bonds</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">(Bay Area Toll Bridges Retrofit), Series A, 5% due 1/01/2028 (a)(f)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">11,174</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">14,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">California State Department of Water Resources, Power Supply Revenue Bonds, Series A, 5.375% due 5/01/2012 (f)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">15,331</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,200</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Coast Community College District, California, GO (Election of 2002), Series C, 5.392% due 8/01/2036 (c)(i)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">921</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,100</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Fresno, California, Unified School District, GO (Election of 2001), Series E, 5% due 8/01/2030 (c)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,152</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">6,500</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Golden State Tobacco Securitization Corporation of California, Tobacco Settlement Revenue Bonds, Series A-1,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">6.625% due 6/01/2013 (f)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">7,516</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">14,500</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Golden State Tobacco Securitization Corporation of California, Tobacco Settlement Revenue Bonds, Series A-1, 6.75%</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">due 6/01/2013 (f)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">16,858</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Los Angeles, California, Municipal Improvement Corporation, Lease Revenue Bonds, Series B1,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4.75% due 8/01/2037 (b)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">17,500</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Metropolitan Water District of Southern California, Waterworks Revenue Bonds, Series B-1, 5% due 10/01/2033 (b)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">17,988</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">500</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Rancho Cucamonga, California, Redevelopment Agency, Tax Allocation Refunding Bonds</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">(Rancho Redevelopment Project), Series A, 5% due 9/01/2034 (e)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">512</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,700</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Sacramento, California, Unified School District, GO (Election of 2002), 5% due 7/01/2030 (e)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,814</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">15,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">San Francisco, California, City and County Public Utilities Commission, Water Revenue Refunding Bonds, Series A,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5% due 11/01/2031 (c)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">15,380</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">53,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">San Joaquin Hills, California, Transportation Corridor Agency, Toll Road Revenue Refunding Bonds, Series A,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5.45% due 1/15/2031 (e)(i)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">16,651</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">10,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">University of California Revenue Bonds, Series C, 4.75% due 5/15/2037 (e)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">10,094</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">10,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">University of California Revenue Bonds, Series O, 5% due 9/01/2010 (b)(f)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">10,562</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">District of Columbia - 3.0%&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">District of Columbia, GO, Series A, 4.75% due 6/01/2036 (b)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,015</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">9,500</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">District of Columbia Tobacco Settlement Financing Corporation, Asset-Backed Revenue Refunding Bonds,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">6.75% due 5/15/2040</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">9,723</FONT>  </TD>
</TR>
</TABLE>

<div style="margin-left:30px">
  <table border=0 cellspacing=0 cellpadding=0>
    <tr valign="bottom">
      <td align=left nowrap colspan=2><b><font face="serif">Portfolio Abbreviations</font></b> </td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap colspan=2><font size=2 face="serif">To simplify the
          listings of Blackrock Insured Municipal Income Trust's portfolio</font> </td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap colspan=2><font size=2 face="serif">holdings in the
          Schedule of Investments, we have abbreviated the names of many</font> </td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap colspan=2><font size=2 face="serif">securities according
          to the list below.</font> </td>
    </tr>
    <tr valign="bottom">
      <td width=63 align=left nowrap><b><font size=2 face="serif">AMT </font></b> </td>
      <td width=331 align=left nowrap><font size=2 face="serif">Alternative Minimum
          Tax (subject to)</font> </td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap><b><font size=2 face="serif">EDA</font></b> </td>
      <td align=left nowrap><font size=2 face="serif">Economic Development Authority</font> </td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap><b><font size=2 face="serif">GO</font></b> </td>
      <td align=left nowrap><font size=2 face="serif">General Obligation Bonds</font> </td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap><b><font size=2 face="serif">IDA</font></b> </td>
      <td align=left nowrap><font size=2 face="serif">Industrial Development
          Authority</font> </td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap><b><font size=2 face="serif">PCR</font></b> </td>
      <td align=left nowrap><font size=2 face="serif">Pollution Control Revenue
          Bonds</font> </td>
    </tr>
  </table>
</div>
<BR>
<P align="center">
<FONT size=2 face="serif">1</FONT></P>

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



<P STYLE="page-break-before:always"></P><PAGE>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Insured Municipal Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of November 30, 2007 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(In Thousands)</FONT></B> </div></TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<B><FONT size=2 face="serif">Face</FONT></B>  </TD>
  <TD>&nbsp;&nbsp;&nbsp; </TD>
  <TD width=90% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">State</FONT></B>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Municipal Bonds</FONT></B>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
    <div align="center"><B><FONT size=2 face="serif">Value</FONT></B>      </div></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Florida - 7.3%</FONT></B>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">&#36;</FONT>  </TD>
  <TD align=right>
<FONT size=2 face="serif">1,650</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Highlands County, Florida, Health Facilities Authority, Hospital Revenue Bonds (Adventist Health System), Series C,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5.25% due 11/15/2036</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">&#36;</FONT>  </TD>
  <TD align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;1,666</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Jacksonville, Florida, Health Facilities Authority, Hospital Revenue Bonds (Baptist Medical Center Project),</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5% due 8/15/2037 (c)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,024</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">9,500</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Miami-Dade County, Florida, Aviation Revenue Bonds (Miami International Airport), Series B, 5% due 10/01/2037 (b)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">9,703</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">25,520</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Miami-Dade County, Florida, Special Obligation Revenue Bonds, Sub-Series A, 5.25% due 10/01/2038 (e)(i)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,194</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,225</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Miami-Dade County, Florida, Transit Sales Surtax Revenue Bonds, 4.75% due 7/01/2036 (h)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,228</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Miami, Florida, Special Obligation Revenue Bonds (Street and Sidewalk Improvement Program), 5% due 1/01/2037 (e)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,017</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Orange County, Florida, Tourist Development, Tax Revenue Refunding Bonds, 4.75% due 10/01/2032 (h)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,002</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Georgia - 3.5%</FONT></B>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Atlanta, Georgia, Water and Wastewater Revenue Bonds, 5% due 11/01/2034 (c)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,064</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,235</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Atlanta, Georgia, Water and Wastewater Revenue Bonds, 5% due 11/01/2037 (c)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,334</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">8,555</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Atlanta, Georgia, Water and Wastewater Revenue Refunding Bonds, Series A, 5% due 11/01/2038 (b)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">8,630</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Illinois - 18.7%</FONT></B>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">14,875</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Bolingbrook, Illinois, GO, Refunding, Series A, 4.75% due 1/01/2038 (e)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">14,990</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">11,550</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Chicago, Illinois, Special Transportation Revenue Bonds, 5.25% due 1/01/2027 (a)(f)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">12,094</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">6,165</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Illinois Municipal Electric Agency, Power Supply Revenue Bonds, 4.50% due 2/01/2035 (b)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,886</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">10,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Illinois Municipal Electric Agency, Power Supply Revenue Bonds, Series A, 5% due 2/01/2035 (b)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">10,303</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">24,010</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Metropolitan Pier and Exposition Authority, Illinois, Dedicated State Tax Revenue Bonds</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">(McCormick Place Expansion), Series A, 5% due 12/15/2028 (e)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">24,783</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">15,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Metropolitan Pier and Exposition Authority, Illinois, Dedicated State Tax Revenue Refunding Bonds</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">(McCormick Place Expansion), 5.50% due 6/15/2028 (e)(i)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,684</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Indiana - 1.2%</FONT></B>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,725</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Indiana Municipal Power Agency, Power Supply System Revenue Bonds, Series A, 4.50% due 1/01/2032 (a)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,543</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Kentucky - 1.6%</FONT></B>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">6,250</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Kentucky State Municipal Power Agency, Power System Revenue Bonds (Prairie State Project), Series A,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5% due 9/01/2037 (e)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">6,509</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Louisiana - 4.5%</FONT></B>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,450</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Louisiana State, Gas and Fuels Tax Revenue Bonds, Series A, 5% due 5/01/2035 (b)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,589</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">12,100</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Louisiana State, Gas and Fuels Tax Revenue Bonds, Series A, 4.75% due 5/01/2039 (c)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">12,100</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Massachusetts - 8.8%&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">10,190</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Massachusetts Bay Transportation Authority, Sales Tax Revenue Refunding Bonds, Senior Series A-2,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4.80% due 7/01/2032 (i)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,994</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,200</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Massachusetts Bay Transportation Authority, Sales Tax Revenue Refunding Bonds, Senior Series A-2,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5.12% due 7/01/2035 (i)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">806</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">625</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Massachusetts State Health and Educational Facilities Authority Revenue Bonds (Lahey Clinic Medical Center),</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Series D, 5.25% due 8/15/2037</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">632</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">24,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Massachusetts State Turnpike Authority, Metropolitan Highway System Revenue Refunding Bonds, Sub-Series A, 5%</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">due 1/01/2039 (a)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">24,202</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,985</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Massachusetts State Water Resource Authority, General Revenue Refunding Bonds, Series A, 5% due 8/01/2041</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">6,180</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Michigan - 1.5%</FONT></B>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Detroit, Michigan, Water Supply System Revenue Bonds, Senior Lien, Series A, 5% due 7/01/2030 (b)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,017</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Henry Ford Health System), Series A,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5% due 11/15/2038</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,908</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Nebraska - 1.8%</FONT></B>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,780</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Omaha Public Power District, Nebraska, Electric System Revenue Bonds, Series A, 4.75% due 2/01/2044</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,756</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Public Power Generation Agency, Nebraska, Revenue Bonds (Whelan Energy Center Unit 2), Series A,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5% due 1/01/2032 (a)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,175</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="serif">2</FONT></P>

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



<P STYLE="page-break-before:always"></P><PAGE>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Insured Municipal Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of November 30, 2007 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(In Thousands)</FONT></B> </div></TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<B><FONT size=2 face="serif">Face</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">State</FONT></B>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp; </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Municipal Bonds</FONT></B>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
    <div align="center"><B><FONT size=2 face="serif">Value</FONT></B>      </div></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Nevada - 7.4%</FONT></B>  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">&#36;</FONT>  </TD>
  <TD align=right>
<FONT size=2 face="serif">6,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Reno, Nevada, Sales and Room Tax Revenue Refunding Bonds</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">(ReTrac-Reno Transportation Rail Access Corridor Project), Senior Lien, 5.125% due 6/01/2012 (a)(f)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">&#36;</FONT>  </TD>
  <TD align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;6,452</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">10,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Truckee Meadows, Nevada, Water Authority, Water Revenue Bonds, Series A, 5% due 7/01/2011 (c)(f)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">10,581</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">6,500</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Truckee Meadows, Nevada, Water Authority, Water Revenue Bonds, Series A, 5.125% due 7/01/2011 (c)(f)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">6,905</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Truckee Meadows, Nevada, Water Authority, Water Revenue Bonds, Series A, 5.25% due 7/01/2011 (c)(f)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,332</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">New York - 3.2%</FONT></B>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">7,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Metropolitan Transportation Authority, New York, Dedicated Tax Fund Revenue Bonds, Series A,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5% due 11/15/2031 (e)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">7,324</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">New York City, New York, Trust for Cultural Resources Revenue Refunding Bonds</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">(American Museum of Natural History), Series A, 5% due 7/01/2044 (e)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,141</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Pennsylvania - 4.4%</FONT></B>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,500</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Lebanon County, Pennsylvania, Health Facilities Authority, Hospital Revenue Bonds</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">(Good Samaritan Hospital Project), 6% due 11/15/2035</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,583</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,200</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Philadelphia, Pennsylvania, Gas Works Revenue Bonds, 3rd Series, 5.125% due 8/01/2011 (c)(f)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,527</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">9,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Philadelphia, Pennsylvania, Gas Works Revenue Refunding Bonds, 1998 General Ordinance, 7th Series,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5% due 10/01/2032 (a)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">9,318</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">South Carolina - 7.4%&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">South Carolina State Public Service Authority Revenue Bonds, Series B, 5.50% due 1/01/2012 (c)(f)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,419</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">10,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">South Carolina Transportation Infrastructure Bank Revenue Bonds, Junior Lien, Series B, 5.125%</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">due 10/01/2011(a)(f)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">10,656</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">12,750</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">South Carolina Transportation Infrastructure Bank Revenue Bonds, Series A, 5% due 10/01/2033 (a)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">13,067</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Tennessee - 5.8%</FONT></B>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">11,705</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Knox County, Tennessee, Health, Educational and Housing Facilities Board, Hospital Facilities Revenue Refunding</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Bonds (Covenant Health), Series A, 5.84% due 1/01/2022 (c)(i)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,505</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">9,260</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Knox County, Tennessee, Health, Educational and Housing Facilities Board, Hospital Facilities Revenue Refunding</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Bonds (Covenant Health), Series A, 5.88% due 1/01/2023 (c)(i)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,083</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">8,500</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Knox County, Tennessee, Health, Educational and Housing Facilities Board, Hospital Facilities Revenue Refunding</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Bonds (Covenant Health), Series A, 5.90% due 1/01/2024 (c)(i)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,523</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">6,850</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Knox County, Tennessee, Health, Educational and Housing Facilities Board, Hospital Facilities Revenue Refunding</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Bonds (Covenant Health), Series A, 5.91% due 1/01/2025 (c)(i)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,673</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Knox County, Tennessee, Health, Educational and Housing Facilities Board, Hospital Facilities Revenue Refunding</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Bonds (Covenant Health), Series A, 5.93% due 1/01/2026 (c)(i)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,830</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">10,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Knox County, Tennessee, Health, Educational and Housing Facilities Board, Hospital Facilities Revenue Refunding</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Bonds (Covenant Health), Series A, 5.07% due 1/01/2041 (c)(i)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,650</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,400</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series A, 5.25% due 9/01/2026</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,432</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Texas - 25.9%</FONT></B>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">10,030</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Coppell, Texas, Independent School District, GO, Refunding, 5.64% due 8/15/2030 (i)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,371</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,350</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Dallas, Texas, Area Rapid Transit Revenue Refunding Bonds, Senior Lien, 5% due 12/01/2011 (a)(f)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,501</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,785</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Harris County-Houston Sports Authority, Texas, Revenue Refunding Bonds, Junior Lien, Series H,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5.81% due 11/15/2038 (e)(i)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,113</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">6,160</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Harris County-Houston Sports Authority, Texas, Revenue Refunding Bonds, Junior Lien, Series H,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5.83% due 11/15/2039 (e)(i)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,113</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">26,890</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Harris County-Houston Sports Authority, Texas, Revenue Refunding Bonds, Third Lien, Series A-3,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5.98% due 11/15/2038 (e)(i)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,033</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">27,675</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Harris County-Houston Sports Authority, Texas, Revenue Refunding Bonds, Third Lien, Series A-3,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5.99% due 11/15/2039 (e)(i)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,885</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="serif">3</FONT></P>

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



<P STYLE="page-break-before:always"></P><PAGE>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Insured Municipal Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of November 30, 2007 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(In Thousands)</FONT></B> </div></TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<B><FONT size=2 face="serif">Face</FONT></B>  </TD>
  <TD>&nbsp;&nbsp;&nbsp; </TD>
  <TD width=90% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">State</FONT></B>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amount</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Municipal Bonds</FONT></B>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
    <div align="center"><B><FONT size=2 face="serif">Value</FONT></B> </div></TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><FONT size=2 face="serif">&#36;</FONT> </div></TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">7,485</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Harris County, Texas, GO, Refunding, 5.49% due 8/15/2025 (e)(i)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">&#36;</FONT>  </TD>
  <TD align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,265</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">10,915</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Harris County, Texas, GO, Refunding, 5.52% due 8/15/2028 (e)(i)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,071</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,510</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Harris County, Texas, Toll Road Revenue Refunding Bonds, Senior Lien, 5% due 8/15/2030 (c)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,656</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,315</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Lewisville, Texas, Independent School District, Capital Appreciation and School Building, GO, Refunding,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4.67% due 8/15/2024 (b)(i)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,290</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,045</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Montgomery County, Texas, Municipal Utility District Number 46, Waterworks and Sewer System, GO,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4.75% due 3/01/2030 (e)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,055</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,100</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">North Texas Thruway Authority, Dallas North Thruway System Revenue Bonds, Series A, 5% due 1/01/2035 (c)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,137</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">9,500</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Northside, Texas, Independent School District, GO, 5.125% due 6/15/2029</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">9,911</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Pearland, Texas, GO, Refunding, 4.75% due 3/01/2029 (b)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,039</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">9,350</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">San Antonio, Texas, Water System Revenue Refunding Bonds, 5.125% due 5/15/2029 (b)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">9,728</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">10,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">San Antonio, Texas, Water System Revenue Refunding Bonds, 5.125% due 5/15/2034 (b)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">10,371</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">30,145</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Texas State Turnpike Authority, Central Texas Turnpike System Revenue Bonds, First Tier, Series A,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5% due 8/15/2042 (a)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">30,420</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Tyler, Texas, Health Facilities Development Corporation, Hospital Revenue Bonds</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">(Mother Frances Hospital Regional Health Care Center), 6% due 7/01/2012 (f)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,333</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Virginia - 1.9%</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Chesterfield County, Virginia, IDA, PCR, Refunding (Virginia Electric and Power Company), Series B,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5.875% due 6/01/2017</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,247</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Chesterfield County, Virginia, IDA, PCR (Virginia Electric and Power Company), Series A, 5.875% due 6/01/2017</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,173</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">Washington - 8.6%</FONT></B>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">9,610</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Central Washington University, System Revenue Bonds, 5% due 5/01/2034 (b)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">9,907</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,655</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Chelan County, Washington, Public Utility District Number 001, Consolidated Revenue Bonds (Chelan Hydro System),</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">AMT, Series C, 5.125% due 7/01/2033 (a)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,758</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,200</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">King County, Washington, Sewer Revenue Refunding Bonds, 5% due 1/01/2036 (c)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,290</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,500</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Port of Seattle, Washington, Revenue Bonds, Series A, 5% due 4/01/2031 (b)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,606</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Seattle, Washington, GO, Series F, 5.125% due 12/15/2008 (e)(f)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,090</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">6,380</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Washington State, GO, Series 02-A, 5% due 7/01/2025 (c)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">6,600</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,000</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">Washington State Health Care Facilities Authority, Revenue Refunding Bonds (Providence Health System), Series A,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4.50% due 10/01/2035 (b)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,882</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=2 face="serif">West Virginia - 0.3%&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,295</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<FONT size=2 face="serif">West Virginia EDA, Lease Revenue Bonds (Correctional, Juvenile and Public Safety Facilities), Series A,</FONT>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5% due 6/01/2029 (e)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">1,339</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Total Municipal Bonds (Cost - &#36;589,111) - 156.3%</FONT></B>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">616,915</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<B><FONT size=2 face="serif">Shares</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Held</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Short-Term Securities</FONT></B>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,000</FONT>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Merrill Lynch Institutional Tax-Exempt Fund, 3.43% (d)(g)</FONT>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,000</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD width=90% align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Total Short-Term Securities (Cost - &#36;2,000) - 0.5%</FONT></B>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,000</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<B><FONT size=2 face="serif">Total Investments (Cost - &#36;591,111*) - 156.8%</FONT></B>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">618,915</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<B><FONT size=2 face="serif">Other Assets Less Liabilities - 1.2%</FONT></B>  </TD>
  <TD align=right nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">4,851</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<B><FONT size=2 face="serif">Preferred Shares, at Redemption Value - (58.0%)</FONT></B>  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">(229,133</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">)</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD width=90% align=left nowrap>
<B><FONT size=2 face="serif">Net Assets Applicable to Common Shares - 100.0%</FONT></B>  </TD>
  <TD align=right nowrap style="border-bottom:3px double #000000;">
<FONT size=2 face="serif">&#36;</FONT>  </TD>
  <TD align=right style="border-bottom:3px double #000000;">
<FONT size=2 face="serif">394,633</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="serif">4</FONT></P>

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



<P STYLE="page-break-before:always"></P><PAGE>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=5 face="serif">BlackRock Insured Municipal Income Trust</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT face="serif">Schedule of Investments as of November 30, 2007 (Unaudited)</FONT></B>  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
    <div align="right"><B><FONT size=2 face="serif">(In Thousands)</FONT></B> </div></TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
  <TD width="2%" valign=top nowrap>
<FONT size=2 face="sans-serif">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
  <TD width=98%>
<P align="left"><FONT size=2 face="serif">The cost and unrealized appreciation (depreciation) of investments as of November 30, 2007, as computed for federal income tax purposes, were as follows:</FONT></P>  </TD>
</TR>
</TABLE>
<div style="margin-left:24px">
  <table width="49%" border=0 cellpadding=0 cellspacing=0>
    <tr valign="bottom">
      <td width=90% align=left nowrap><font size=2 face="serif">Aggregate cost</font> </td>
      <td align=left nowrap style="border-bottom:3px double #000000;"><font size=2 face="serif">&#36;</font> </td>
      <td align=right nowrap style="border-bottom:3px double #000000;"><font size=2 face="serif">591,111</font> </td>
      <td align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</td>
    </tr>
    <tr valign="bottom">
      <td width=90% align=left nowrap><font size=2 face="serif">Gross unrealized
          appreciation</font> </td>
      <td align=left nowrap><font size=2 face="serif">&#36;</font> </td>
      <td align=right nowrap><font size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28,827</font> </td>
      <td align=left nowrap>&nbsp;</td>
    </tr>
    <tr valign="bottom">
      <td width=90% align=left nowrap><font size=2 face="serif">Gross unrealized
          depreciation</font> </td>
      <td align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td align=right nowrap style="border-bottom:1px solid #000000;"><font size=2 face="serif">(1,023</font> </td>
      <td align=left nowrap style="border-bottom:1px solid #000000;"><font size=2 face="serif">)</font> </td>
    </tr>
    <tr valign="bottom">
      <td width=90% align=left nowrap><font size=2 face="serif">Net unrealized
          appreciation</font> </td>
      <td align=left nowrap style="border-bottom:3px double #000000;"><font size=2 face="serif">&#36;</font> </td>
      <td align=right nowrap style="border-bottom:3px double #000000;"><font size=2 face="serif">27,804</font> </td>
      <td align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</td>
    </tr>
  </table>
</div>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
  <TD width="2%" valign=top nowrap>
<FONT size=2 face="serif">(a)&nbsp;&nbsp;&nbsp;</FONT></TD>
  <TD width=98%>
<P align="left"><FONT size=2 face="serif">AMBAC Insured.</FONT></P>  </TD>
</TR>
<TR>
  <TD nowrap valign=top>
<FONT size=2 face="serif">(b)</FONT></TD>
  <TD>
<P align="left"><FONT size=2 face="serif">FGIC Insured.</FONT></P>  </TD>
</TR>
<TR>
  <TD nowrap valign=top>
<FONT size=2 face="serif">(c)</FONT></TD>
  <TD>
<P align="left"><FONT size=2 face="serif">FSA Insured.</FONT></P>  </TD>
</TR>
<TR>
  <TD nowrap valign=top>
<FONT size=2 face="serif">(d)</FONT></TD>
  <TD>
<P align="left"><FONT size=2 face="serif">Investments in companies considered to be an affiliate of the Trust, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows:</FONT></P>  </TD>
</TR>
</TABLE>
<div style="margin-left:24px">
  <table width="80%" border=0 cellpadding=0 cellspacing=0>
    <tr valign="bottom">
      <td width=55% align=left nowrap style="border-bottom:1px solid #000000; border-top:1px solid #000000"><b><font size=2 face="serif">Affiliate</font></b> </td>
      <td width=16% align=right nowrap style="border-bottom:1px solid #000000; border-top:1px solid #000000"><div align="center"><b><font size=2 face="serif">Net
              Activity</font></b> </div></td>
      <td width=29% align=left nowrap style="border-bottom:1px solid #000000; border-top:1px solid #000000"><div align="center"><b><font size=2 face="serif">Dividend
              Income</font></b> </div></td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap style="border-bottom:1px solid #000000;"><font size=2 face="serif">Merrill
          Lynch Institutional Tax-Exempt Fund</font> </td>
      <td align=right nowrap style="border-bottom:1px solid #000000;"><div align="center"><font size=2 face="serif">(300)</font> </div></td>
      <td align=left style="border-bottom:1px solid #000000;"><div align="center"><font size=2 face="serif">&#36;21</font> </div></td>
    </tr>
  </table>
</div>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="1%"><FONT size=2 face="serif">(e)&nbsp;&nbsp;&nbsp;</FONT></td>
    <td width="99%"><FONT size=2 face="serif"> MBIA </FONT><FONT size=2 face="serif">Insured.</FONT></td>
  </tr>
  <tr>
    <td><FONT size=2 face="serif">(f)</FONT></td>
    <td><FONT size=2 face="serif">Prerefunded.</FONT><FONT size=2 face="serif">&nbsp; </FONT></td>
  </tr>
  <tr>
    <td><FONT size=2 face="serif">(g)</FONT></td>
    <td><FONT size=2 face="serif">Represents</FONT><FONT size=2 face="serif"> the
        current yield as of </FONT><FONT size=2 face="serif">November</FONT><FONT size=2 face="serif"> 30,
    2007.</FONT></td>
  </tr>
  <tr>
    <td><FONT size=2 face="serif">(h)</FONT></td>
    <td><FONT size=2 face="serif"> XL Capital </FONT><FONT size=2 face="serif">Insured.</FONT><FONT size=2 face="serif">&nbsp; </FONT></td>
  </tr>
  <tr>
    <td><FONT size=2 face="serif">(i)</FONT></td>
    <td><FONT size=2 face="serif">Represents</FONT><FONT size=2 face="serif"> a
        zero coupon bond; the interest rate shown reflects the </FONT><FONT size=2 face="serif">effective</FONT><FONT size=2 face="serif"> yield
    at the time of </FONT><FONT size=2 face="serif">purchase.</FONT><FONT size=2 face="serif">&nbsp; </FONT></td>
  </tr>
  <tr>
    <td><FONT size=2 face="sans-serif">&#149;</FONT></td>
    <td><FONT size=2 face="serif">Forward</FONT><FONT size=2 face="serif"> interest
        rate swaps </FONT><FONT size=2 face="serif">outstanding</FONT><FONT size=2 face="serif"> as
        of </FONT><FONT size=2 face="serif">November</FONT><FONT size=2 face="serif"> 30,
    2007 were as </FONT><FONT size=2 face="serif">follows:</FONT></td>
  </tr>
</table>
<div style="margin-left:24px">
  <table width="80%" border=0 cellpadding=0 cellspacing=0>
    <tr valign="bottom">
      <td width=90% align=left nowrap style="border-top:1px solid #000000">&nbsp;</td>
      <td style="border-top:1px solid #000000">&nbsp;</td>
      <td align=right nowrap style="border-top:1px solid #000000">&nbsp;</td>
      <td align=center nowrap style="border-top:1px solid #000000"><b><font size=2 face="serif">Notional</font></b> </td>
      <td nowrap style="border-top:1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
      <td align=left nowrap style="border-top:1px solid #000000">&nbsp;</td>
      <td align=center nowrap style="border-top:1px solid #000000"><b><font size=2 face="serif">Unrealized</font></b> </td>
      <td align=left nowrap style="border-top:1px solid #000000">&nbsp;</td>
    </tr>
    <tr valign="bottom">
      <td width=90% align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td align=center nowrap style="border-bottom:1px solid #000000;"><b><font size=2 face="serif">Amount</font></b> </td>
      <td style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td align=center nowrap style="border-bottom:1px solid #000000;"><b><font size=2 face="serif">Depreciation</font></b> </td>
      <td align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</td>
    </tr>
    <tr valign="bottom">
      <td width=90% align=left nowrap><font size=2 face="serif">Pay a fixed rate
          of 3.635% and receive a floating rate based on 1-week</font> </td>
      <td>&nbsp;</td>
      <td align=right nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
    </tr>
    <tr valign="bottom">
      <td width=90% align=left nowrap><font size=2 face="serif">(SIFMA) Municipal
          Swap Index rate</font> </td>
      <td>&nbsp;</td>
      <td align=right nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
    </tr>
    <tr valign="bottom">
      <td width=90% align=left nowrap><font size=2 face="serif">Broker, Citibank
          N.A.</font> </td>
      <td>&nbsp;</td>
      <td align=right nowrap>&nbsp;</td>
      <td align=right nowrap>&nbsp;</td>
      <td>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=right nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
    </tr>
    <tr valign="bottom">
      <td width=90% align=left nowrap><font size=2 face="serif">Expires March
          2023</font> </td>
      <td>&nbsp;</td>
      <td align=right nowrap><font size=2 face="serif">&#36;</font></td>
      <td align=right nowrap><font size=2 face="serif">20,000</font></td>
      <td>&nbsp;</td>
      <td align=left nowrap><font size=2 face="serif">&#36;</font></td>
      <td align=right nowrap><font size=2 face="serif">(165</font></td>
      <td align=left nowrap><font size=2 face="serif">)</font></td>
    </tr>
    <tr valign="bottom">
      <td width=90% align=left nowrap><font size=2 face="serif">Pay a fixed rate
          of 3.905% and receive a floating rate based on 1-week</font> </td>
      <td>&nbsp;</td>
      <td align=right nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
    </tr>
    <tr valign="bottom">
      <td width=90% align=left nowrap><font size=2 face="serif">(SIFMA) Municipal
          Swap Index rate</font> </td>
      <td>&nbsp;</td>
      <td align=right nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
    </tr>
    <tr valign="bottom">
      <td width=90% align=left nowrap><font size=2 face="serif">Broker, JPMorgan
          Chase</font> </td>
      <td>&nbsp;</td>
      <td align=right nowrap>&nbsp;</td>
      <td align=right nowrap>&nbsp;</td>
      <td>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=right nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
    </tr>
    <tr valign="bottom">
      <td width=90% align=left nowrap><font size=2 face="serif">Expires January
          2028</font> </td>
      <td>&nbsp;</td>
      <td align=right nowrap><font size=2 face="serif">&#36;</font></td>
      <td align=right nowrap><font size=2 face="serif">15,000</font></td>
      <td>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=right nowrap><font size=2 face="serif">(437</font></td>
      <td align=left nowrap><font size=2 face="serif">)</font></td>
    </tr>
    <tr valign="bottom">
      <td width=90% align=left nowrap><font size=2 face="serif">Pay a fixed rate
          of 4.026% and receive a floating rate based on 1-week</font> </td>
      <td>&nbsp;</td>
      <td align=right nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
    </tr>
    <tr valign="bottom">
      <td width=90% align=left nowrap><font size=2 face="serif">(SIFMA) Municipal
          Swap Index rate</font> </td>
      <td>&nbsp;</td>
      <td align=right nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
    </tr>
    <tr valign="bottom">
      <td width=90% align=left nowrap><font size=2 face="serif">Broker, Citibank
          N.A.</font> </td>
      <td>&nbsp;</td>
      <td align=right nowrap>&nbsp;</td>
      <td align=right nowrap>&nbsp;</td>
      <td>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=right nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
    </tr>
    <tr valign="bottom">
      <td width=90% align=left nowrap><font size=2 face="serif">Expires December
          2032</font> </td>
      <td>&nbsp;</td>
      <td align=right nowrap><font size=2 face="serif">&#36;</font></td>
      <td align=right nowrap><font size=2 face="serif">7,500</font></td>
      <td>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=right nowrap><font size=2 face="serif">(328</font></td>
      <td align=left nowrap><font size=2 face="serif">)</font></td>
    </tr>
    <tr valign="bottom">
      <td width=90% align=left nowrap><font size=2 face="serif">Pay a fixed rate
          of 4.065% and receive a floating rate based on 1-week</font> </td>
      <td>&nbsp;</td>
      <td align=right nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
    </tr>
    <tr valign="bottom">
      <td width=90% align=left nowrap><font size=2 face="serif">(SIFMA) Municipal
          Swap Index rate</font> </td>
      <td>&nbsp;</td>
      <td align=right nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
    </tr>
    <tr valign="bottom">
      <td width=90% align=left nowrap><font size=2 face="serif">Broker, Citibank
          N.A.</font> </td>
      <td>&nbsp;</td>
      <td align=right nowrap>&nbsp;</td>
      <td align=right nowrap>&nbsp;</td>
      <td>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=right nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
    </tr>
    <tr valign="bottom">
      <td width=90% align=left nowrap style="border-bottom:1px solid #000000;"><font size=2 face="serif">Expires
          December 2037</font> </td>
      <td style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td align=right nowrap style="border-bottom:1px solid #000000;"><font size=2 face="serif">&#36;</font></td>
      <td align=right nowrap style="border-bottom:1px solid #000000;"><font size=2 face="serif">16,500</font></td>
      <td style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</td>
      <td align=right nowrap style="border-bottom:1px solid #000000;"><font size=2 face="serif">(793</font></td>
      <td align=left nowrap style="border-bottom:1px solid #000000;"><font size=2 face="serif">)</font></td>
    </tr>
    <tr valign="bottom">
      <td width=90% align=left nowrap>&nbsp;</td>
      <td>&nbsp;</td>
      <td align=right nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td>&nbsp;</td>
      <td align=left nowrap style="border-bottom:3px double #000000;"><font size=2 face="serif">&#36;</font> </td>
      <td align=right nowrap style="border-bottom:3px double #000000;"><font size=2 face="serif">(1,723</font> </td>
      <td align=left nowrap style="border-bottom:3px double #000000;"><font size=2 face="serif">)</font> </td>
    </tr>
  </table>
</div>
<BR>
<P align="center">
<FONT size=2 face="serif">5</FONT></P>

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



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


<P align="left">
<FONT size=2 face="serif">Item 2 &#150; Controls and Procedures</FONT></P>
<div style="margin-left:47px;text-indent:-47px">
<P align="left">
<FONT size=2 face="serif">2(a) &#150;&nbsp;&nbsp;&nbsp;&nbsp; The registrant&#146;s
principal executive and principal financial officers or persons performing similar
functions have concluded that the registrant&#146;s disclosure controls and procedures
(as defined in Rule  30a-3(c) under the Investment Company Act of 1940, as amended
(the &#147;1940 Act&#148;)) are effective as of a date within 90 days of the
filing of this report based on the evaluation of these controls and procedures
required by Rule 30a-3(b) under  the 1940 Act and Rule 13a-15(b) under the Securities
and Exchange Act of 1934, as amended. </FONT></P>
<P align="left">
<FONT size=2 face="serif">2(b) &#150;&nbsp;&nbsp;&nbsp;&nbsp; There were no changes
in the registrant&#146;s internal control over financial reporting (as defined
in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant&#146;s
last fiscal quarter that have  materially affected, or are reasonably likely
to materially affect, the registrant&#146;s internal control over financial reporting. </FONT></P>
</div>
<P align="left">
<FONT size=2 face="serif">Item 3 &#150; Exhibits</FONT></P>
<div style="margin-left:47px">
<P align="left">
<FONT size=2 face="serif">Certifications &#150; Attached hereto</FONT></P>
<P align="left">
<FONT size=2 face="serif">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized. </FONT></P>
<P align="left"><font size=2 face="serif">BlackRock Insured Municipal Income
  Trust</font></P>
<TABLE border=0 cellspacing=0 cellpadding=0>

<TR valign="bottom">
  <TD align=left nowrap><font size=2 face="serif">By: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">/s/ Donald C. Burke</FONT></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
	<TD align=left nowrap><FONT size=2 face="serif">Donald C. Burke,</FONT>	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
	<TD align=left nowrap><FONT size=2 face="serif">Chief Executive Officer of</FONT>	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
	<TD align=left nowrap><FONT size=2 face="serif">BlackRock Insured Municipal Income Trust</FONT>	</TD>
</TR>
</TABLE>
<BR>
<P align="left"><font size=2 face="serif">Date: January 16, 2008</font></P>
<P align="left"><FONT size=2 face="serif">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on
  the dates indicated.</FONT></P>


<TABLE border=0 cellspacing=0 cellpadding=0>

<TR valign="bottom">
  <TD align=left nowrap><font size=2 face="serif">By: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">/s/ Donald C. Burke</FONT></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
	<TD align=left nowrap><FONT size=2 face="serif">Donald C. Burke,</FONT>	</TD>
</TR>

  <TR valign="top">
    <TD align=left nowrap>&nbsp;</TD>
    <TD colspan="2" align=left nowrap><FONT size=2 face="serif">Chief Executive Officer (principal executive officer) of</FONT> </TD>
  </TR>
  <TR valign="top">
    <TD align=left nowrap>&nbsp;</TD>
    <TD colspan="2" align=left nowrap><FONT size=2 face="serif">BlackRock Insured Municipal Income Trust</FONT> </TD>
  </TR>
</TABLE>
<p><font size=2 face="serif">Date: January 16, 2008</font></p>



<TABLE border=0 cellspacing=0 cellpadding=0>

<TR valign="bottom">
  <TD align=left nowrap><font size=2 face="serif">By: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">/s/
    Neal J. Andrews</FONT></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
	<TD align=left nowrap><FONT size=2 face="serif">Neal J. Andrews,</FONT></TD>
</TR>
  <TR valign="top">
    <TD align=left nowrap>&nbsp;</TD>
    <TD colspan="2" align=left nowrap><FONT size=2 face="serif">Chief Financial Officer (principal financial officer) of</FONT> </TD>
  </TR>
  <TR valign="top">
    <TD align=left nowrap>&nbsp;</TD>
    <TD colspan="2" align=left nowrap><FONT size=2 face="serif">BlackRock Insured Municipal Income Trust</FONT> </TD>
  </TR>
</TABLE>
<p><font size=2 face="serif">Date: January 16, 2008</font></p>
<BR>
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<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>c51903_ex99cert.htm
<TEXT>

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<DIV align="left">
<B><FONT size=2 face="serif">EX-99. CERT <br>
</FONT></B><B><FONT size=2 face="serif">CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF <br>
THE SARBANES-OXLEY ACT OF 2002 </FONT></B></DIV>
<div style="border-bottom:1px solid #000000"> &nbsp;</div>
<P align="left">
<FONT size=2 face="serif">I, Donald C. Burke, Chief Executive Officer (principal executive officer) of BlackRock Insured Municipal Income Trust, certify that: </FONT></P>
<P align="left">
<FONT size=2 face="serif">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I have reviewed this report on Form N-Q of BlackRock Insured Municipal Income Trust; </FONT></P>
<P align="left">
<FONT size=2 face="serif">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</FONT></P>
<P align="left">
<FONT size=2 face="serif">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant
as of the end of the fiscal quarter for which the report is filed; </FONT></P>
<P align="left">
<FONT size=2 face="serif">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant&#146;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as
defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: </FONT></P>
<div style="margin-left:42px">
<P align="left">
<FONT size=2 face="serif">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure
that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; </FONT></P>
<P align="left">
<FONT size=2 face="serif">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our
supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; </FONT></P>
<P align="left">
<FONT size=2 face="serif">c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;evaluated the effectiveness of the registrant&#146;s
disclosure controls and procedures and presented in this report our conclusions
about the  effectiveness of the disclosure controls and procedures, as of a date
within 90 days prior to the filing date of this report, based on such evaluation;
and </FONT></P>
<P align="left">
<FONT size=2 face="serif">d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;disclosed in this report any change in the registrant&#146;s internal control over financial reporting that occurred during the registrant&#146;s
most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting; and </FONT></P></div>
<P align="left">
<FONT size=2 face="serif">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant&#146;s other certifying officer(s) and I have disclosed to the registrant&#146;s auditors and the audit committee of the
registrant&#146;s board of directors (or persons performing the equivalent functions): </FONT></P>
<div style="margin-left:42px"><P align="left">
<FONT size=2 face="serif">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably
likely to adversely affect the registrant&#146;s ability to record, process, summarize, and report financial information; and </FONT></P>
<P align="left">
<FONT size=2 face="serif">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#146;s internal control
over financial reporting. </FONT></P></div>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD align=left nowrap><font size=2 face="serif">Date:
    January 16, 2008</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap><div style="border-bottom:1px solid #000000;width:140px"><FONT size=2 face="serif">/s/ Donald C. Burke</FONT></div></TD>
</TR>
<TR valign="bottom">
	<TD align=left width=100% nowrap></TD>
</TR>
<TR valign="bottom">
	<TD align=left width=100% nowrap>
<FONT size=2 face="serif">Donald C. Burke,</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left width=100% nowrap>
<FONT size=2 face="serif">Chief Executive Officer (principal executive officer) of</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left width=100% nowrap>
<FONT size=2 face="serif">BlackRock Insured Municipal Income Trust</FONT>	</TD>
</TR>
</TABLE>
<BR>

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



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


<DIV align="left">
<B><FONT size=2 face="serif">EX-99. CERT <br>
</FONT></B><B><FONT size=2 face="serif">CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF <br>
THE SARBANES-OXLEY ACT OF 2002 </FONT></B></DIV>
<div style="border-bottom:1px solid #000000"> &nbsp;</div>
<P align="left">
<FONT size=2 face="serif">I, Neal J. Andrews, Chief Financial Officer (principal financial officer) of BlackRock Insured Municipal Income Trust, certify that: </FONT></P>
<P align="left">
<FONT size=2 face="serif">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I have reviewed this report on Form N-Q of BlackRock Insured Municipal Income Trust; </FONT></P>
<P align="left">
<FONT size=2 face="serif">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</FONT></P>
<P align="left">
<FONT size=2 face="serif">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant
as of the end of the fiscal quarter for which the report is filed; </FONT></P>
<P align="left">
<FONT size=2 face="serif">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant&#146;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as
defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: </FONT></P>
<div style="margin-left:42px"><P align="left">
<FONT size=2 face="serif">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure
that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; </FONT></P>
<P align="left">
<FONT size=2 face="serif">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our
supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; </FONT></P>
<P align="left">
<FONT size=2 face="serif">c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;evaluated the effectiveness of the registrant&#146;s disclosure controls and procedures and presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and </FONT></P>
<P align="left">
<FONT size=2 face="serif">d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;disclosed in this report any change in the registrant&#146;s internal control over financial reporting that occurred during the registrant&#146;s
most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting; and </FONT></P></div>
<P align="left">
<FONT size=2 face="serif">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant&#146;s other certifying officer(s) and I have disclosed to the registrant&#146;s auditors and the audit committee of the
registrant&#146;s board of directors (or persons performing the equivalent functions): </FONT></P>
<div style="margin-left:42px"><P align="left">
<FONT size=2 face="serif">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably
likely to adversely affect the registrant&#146;s ability to record, process, summarize, and report financial information; and </FONT></P>
<P align="left">
<FONT size=2 face="serif">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#146;s internal control
over financial reporting. </FONT></P></div>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD align=left nowrap><font size=2 face="serif">Date:
    January 16, 2008</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left width=100% nowrap><div style="border-bottom:1px solid #000000;width:140px"><FONT size=2 face="serif">/s/ Neal
    J. Andrews</FONT></div></TD>
</TR>
<TR valign="bottom">
	<TD align=left width=100% nowrap>
<FONT size=2 face="serif">Neal J. Andrews,</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left width=100% nowrap>
<FONT size=2 face="serif">Chief Financial Officer (principal financial officer) of</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left width=100% nowrap>
<FONT size=2 face="serif">BlackRock Insured Municipal Income Trust</FONT>	</TD>
</TR>
</TABLE>
<BR>

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