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SIGNATURE STEVE FORD
TITLE MANAGER FUND ADMIN
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<NAME> BLACKROCK ASSET INVESTORS
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</TABLE>
INDEPENDENT AUDITORS' REFORT
The Board of Directors
BlackRock Asset Investors
In planning and performing our audit of the financial
statements of BlackRock Asset Investors (the "Fund") for
the year ended December 31, 1997 (on which we have issued
our report dated February 23, 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 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 be 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
December 31, 1997.
This report is intended solely for the information and use
of management, the Board of Directors of BlackRock Asset
Investors, and the Securities and Exchange Commission.
DELOTTTE- & TOUCHE LLP
New York, New York
February 23, 1998
