n23c2.htm

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
 
RULE 23C-2 NOTICE OF INTENTION TO REDEEM SECURITIES
 
of
 
BlackRock Preferred Income Strategies Fund, Inc.
100 Bellevue Parkway
Wilmington, DE 19809
(888) 825-2257
 
under the
 
Investment Company Act of 1940
 
Investment Company Act File No. 811-21286
 


1.
Title of the class of securities of BlackRock Preferred Income Strategies Fund, Inc. (the "Fund") to be redeemed:
 
Auction Market Preferred Stock, par value $.01 per share, as identified by series and CUSIP in Annex A hereto (the "Shares").
 
2.
The date on which the securities are to be called or redeemed:
 
See Annex A for the dates on which Shares of each series are to be redeemed (the "Redemption Date").
 
3.
The applicable provisions of the governing instrument pursuant to which the securities are to be called or redeemed:
 
The Shares are to be redeemed pursuant to Section 4(a)(i) of the Fund's Articles Supplementary.
 
4.
The principal amount or number of shares and the basis upon which the securities to be redeemed are to be selected:
 
See Annex A for information concerning the number of Shares of each series and the aggregate principal amount of Shares of each series to be redeemed.  The Depository Trust Company (DTC), holder of record of the Shares, determines by lottery how the redemption will be allocated among each participant broker-dealer account that holds Shares and each participant broker-dealer determines how to allocate each redemption among the holders of the Shares held by it.

 
 

SIGNATURE

Pursuant to the requirement of Rule 23c-2 of the Investment Company Act of 1940, the Fund has duly caused this Notice of Intention to Redeem Securities to be signed on its behalf by the undersigned on this 25th day of November, 2008.



 
BLACKROCK PREFERRED INCOME
STRATEGIES FUND, INC.
  
     
 
By:
 /s/ Neal J. Andrews  
 
Name:
Neal J. Andrews
 
Title:
Chief Financial Officer


 
 

Annex A

Series
CUSIP
Redemption Date
Total Shares to be Redeemed
Aggregate Principal Amount to be Redeemed
M7
09255H204
December 16, 2008
  229
$5,725,000
T7
09255H303
December 17, 2008
  229
$5,725,000
W7
09255H402
December 18, 2008
  229
$5,725,000
R7
09255H501
December 12, 2008
  229
$5,725,000
F7
09255H600
December 15, 2008
  229
$5,725,000
W28
09255H709
December 18, 2008
  327
$8,175,000
R28
09255H808
January 2, 2009
  327
$8,175,000