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SIGNATURE C. WILLIAM MAHER
TITLE ADMINISTRATOR
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 1,882,470,621
<INVESTMENTS-AT-VALUE> 1,858,451,936
<RECEIVABLES> 16,548,145
<ASSETS-OTHER> 67,827,240
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,942,827,321
<PAYABLE-FOR-SECURITIES> 57,419,332
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 552,275,757
<TOTAL-LIABILITIES> 609,695,089
<SENIOR-EQUITY> 0,
<PAID-IN-CAPITAL-COMMON> 1,336,802,285
<SHARES-COMMON-STOCK> 142,010,583
<SHARES-COMMON-PRIOR> 142,010,583
<ACCUMULATED-NII-CURRENT> 98,497,981
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (76,567,496)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (25,600,538)
<NET-ASSETS> 1,333,132,232
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</TABLE>
INDEPENDENT AUDITORS' REPORT
To the Trustees and Shareholders of the BlackRock 2001 Term Trust
Inc. In planning and performing our audit of the financial
statements of the BlackRock 2001 Term Trust Inc. (the "Trust")
for the year ended June 30, 1999 (on which we have issued our
report dated August 6, 1999), 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
Trust's internal control. The management of the Trust 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 Trust'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 Trust's internal
control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined
above as of June 30, 1999.
This report is intended solely for the information and use of
management, the Trustees of the BlackRock 2001 Term Trust Inc.,
and the Securities and Exchange Commission.
August 25, 1999
