Reading Time: 3 minutes

NEW YORK–(BUSINESS WIRE)–BlackRock Advisors, LLC announced today that the Board of Trustees of
BlackRock Florida Municipal 2020 Term Trust (the “Fund”) (NYSE: BFO,
CUSIP: 09250M109) has authorized an open market share repurchase program
pursuant to which the Fund may repurchase up to 20% of its outstanding
common shares (based on common shares outstanding on March 31, 2019) in
open market transactions through the earlier of (i) November 30, 2020 or
(ii) the Fund’s adoption of a plan of termination. The repurchase
program seeks to help meet the Fund’s investment objective to return
$15.00 per common share to holders of common shares on or about December
31, 2020 through net asset value accretion. There is no guarantee that
the Fund will achieve its investment objective.

The amount and timing of any repurchases under the repurchase program
will be determined pursuant to predetermined parameters and
instructions. There is no assurance that the Fund will repurchase shares
in any particular amounts. The Fund’s repurchase activity will be
disclosed in its shareholder report for the relevant fiscal period. Any
repurchases made under the repurchase program will be made on a national
security exchange at the prevailing market price, subject to exchange
requirements and certain volume and timing limitations and other
regulations under federal securities laws. Repurchases will not commence
for the Fund until after all the required elements of the repurchase
program have been finalized and have become effective.

About BlackRock

BlackRock helps investors build better financial futures. As a fiduciary
to investors and a leading provider of financial technology, our clients
turn to us for the solutions they need when planning for their most
important goals. As of March 31, 2019, the firm managed approximately
$6.52 trillion in assets on behalf of investors worldwide. For
additional information on BlackRock, please visit www.blackrock.com |
Twitter: @blackrock |
Blog: www.blackrockblog.com |
LinkedIn: www.linkedin.com/company/blackrock

Availability of Fund Updates

BlackRock will update performance and certain other data for the Fund on
a monthly basis on its website in the “Closed-end Funds” section of www.blackrock.com as
well as certain other material information as necessary from time to
time. Investors and others are advised to check the website for updated
performance information and the release of other material information
about the Fund. This reference to BlackRock’s website is intended to
allow investors public access to information regarding the Fund and does
not, and is not intended to, incorporate BlackRock’s website in this
release.

Forward-Looking Statements

This press release, and other statements that BlackRock or a Fund may
make, may contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act, with respect to the Fund’s or
BlackRock’s future financial or business performance, strategies or
expectations. Forward-looking statements are typically identified by
words or phrases such as “trend,” “potential,” “opportunity,”
“pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,”
“intention,” “estimate,” “position,” “assume,” “outlook,” “continue,”
“remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar
expressions, or future or conditional verbs such as “will,” “would,”
“should,” “could,” “may” or similar expressions.

BlackRock cautions that forward-looking statements are subject to
numerous assumptions, risks and uncertainties, which change over time.
Forward-looking statements speak only as of the date they are made, and
BlackRock assumes no duty to and does not undertake to update
forward-looking statements. Actual results could differ materially from
those anticipated in forward-looking statements and future results could
differ materially from historical performance.

With respect to the Fund, the following factors, among others, could
cause actual events to differ materially from forward-looking statements
or historical performance: (1) changes and volatility in political,
economic or industry conditions, the interest rate environment, foreign
exchange rates or financial and capital markets, which could result in
changes in demand for the Fund or in the Fund’s net asset value; (2) the
relative and absolute investment performance of the Fund and its
investments; (3) the impact of increased competition; (4) the
unfavorable resolution of any legal proceedings; (5) the extent and
timing of any distributions or share repurchases; (6) the impact, extent
and timing of technological changes; (7) the impact of legislative and
regulatory actions and reforms, including the Dodd-Frank Wall Street
Reform and Consumer Protection Act, and regulatory, supervisory or
enforcement actions of government agencies relating to the Fund or
BlackRock, as applicable; (8) terrorist activities, international
hostilities and natural disasters, which may adversely affect the
general economy, domestic and local financial and capital markets,
specific industries or BlackRock; (9) BlackRock’s ability to attract and
retain highly talented professionals; (10) the impact of BlackRock
electing to provide support to its products from time to time; and
(11) the impact of problems at other financial institutions or the
failure or negative performance of products at other financial
institutions.

Annual and Semi-Annual Reports and other regulatory filings of the Fund
with the SEC are accessible on the SEC’s website at www.sec.gov and
on BlackRock’s website at www.blackrock.com,
and may discuss these or other factors that affect the Fund. The
information contained on BlackRock’s website is not a part of this press
release.

Contacts

BlackRock
1-800-882-0052