NET ASSET VALUE

BLACKROCK NORTH AMERICAN INCOME TRUST PLC

The unaudited net asset values for BlackRock North American Income Trust plc at
close of business on 2 January 2014 were:

112.01p Capital only
112.80p Including current year income

Notes:

1. Investments have been valued on a bid price basis.

2. Revenue items included in net asset value, with dividends payable deducted
on the ex-dividend date.

3. Following conversion of the Company's C Shares into Ordinary Shares and the
issue of 150,000 new Ordinary Shares on 2 December 2013, the unaudited NAV has
been calculated on the basis of 99,761,305 Ordinary Shares in issue.