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SIGNATURE HENRY GABBAY
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICL6
<CIK>
<NAMETHE BLACKROCK NORTH AMERICAN GOVERNMENT INCOME TRUST INC.
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> Oct-31-1998
<PERIOD-END> Oct-31-1998
<INVESTMENTS-AT-COST> 591,151,338
<INVESTMENTS-AT-VALUE> 594,727,822
<RECEIVABLES> 12,068,872
<ASSETS-OTHER> 8,925,693
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 615,722,387
<PAYABLE-FOR-SECURITIES> 10,802,729
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 174,812,642
<TOTAL-LIABILITIES> 185,615,371
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 443,062,786
<SHARES-COMMON-STOCK> 36,207,093
<SHARES-COMMON-PRIOR> 36,207,093
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (40,167,684)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 27,211,914
<NET-ASSETS> 430,107,016
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 32,299,547
<OTHER-INCOME> 0
<EXPENSES-NET> 3,912,789
<NET-INVESTMENT-INCOME> 28,386,758
<REALIZED-GAINS-CURRENT> (2,182,478)
<APPREC-INCREASE-CURRENT> (17,103,031)
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<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (21,312,083)
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<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,672,684
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,912,789
<AVERAGE-NET-ASSETS> 444,051,000
<PER-SHARE-NAV-BEGIN> 12.47
<PER-SHARE-NII> 0.78
<PER-SHARE-GAIN-APPREC> (0.53)
<PER-SHARE-DIVIDEND> (0.84)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
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For the fiscal year ended (a) October 31, 1998
File number (c) 811-6443
SUB-ITEM 77J
Restatement of Capital Share Account
The Trust accounts for and reports distributions
to shareholders in accordance with the American
Institute of Certified Public Accountants' Statement of
Position 93-2: Determination, Disclosure, and Financial
Statement Presentation of Income, Capital Gain, and
Return of Capital Distributions by Investment
Companies. For the fiscal year ended October 31, 1998
the Trust decreased paid-in capital in excess of par by
$1,007,535, increased undistributed net investment
income by $556,902, increased accumulated net realized
losses on investments by $162,996, and decreased
accumulated net realized and unrealized foreign
currency gain (loss) by $613,629 for realized foreign
currency gains (losses) incurred during the fiscal year
ended October 31, 1998. Net investment income, net
realized gains and net assets were not affected by this
change.
INDEPENDENT AUDITORS' REPORT
To the Shareholders and Board of Directors of
The BlackRock North American Government Income Trust Inc.:
In planning and performing our audit of the financial
statements of The BlackRock North American Government Income
Trust Inc. (the "Fund") for the year ended October 31, 1998
(on which we have issued our report dated December 11,
1998), we considered its internal control, including control
activities for safeguarding securities, in order to
determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to
comply with the requirements of Form N-SAR, and not to
provide assurance on the Fund's internal control.
The management of the Fund is responsible for establishing
and maintaining internal control. In fulfilling this
responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs
of controls. Generally, controls that are relevant to an
audit pertain to the entity's objective of preparing
financial statements for external purposes that are fairly
presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of
assets against unauthorized acquisition, use, or
disposition.
Because of inherent limitations in any internal control,
errors or fraud may occur and not be detected. Also,
projection of any evaluation of internal control to future
periods is subject to the risk that it may become inadequate
because of changes in conditions or that the effectiveness
of the design and operation may deteriorate.
Our consideration of the Fund's internal control would not
necessarily disclose all matters in internal control that
might be material weaknesses under standards established by
the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or
operation of one or more of the internal control components
does not reduce to a relatively low level the risk that
errors or fraud in amounts that would be material in
relation to the financial statements being audited may occur
and not be detected within a timely period by employees in
the normal course of performing their assigned functions.
However, we noted no matters involving the Fund's internal
control and its operation, including controls for
safeguarding securities, that we consider to be material
weaknesses as defined above as of October 31, 1998.
This report is intended solely for the information and use
of management, the Board of Directors of The BlackRock North
American Government Income Trust Inc. and the Securities and
Exchange Commission.
December 11, 1998
