January NQ -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-21286

Name of Fund: BlackRock Preferred Income Strategies Fund, Inc. (PSY)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock
Preferred Income Strategies Fund, Inc., 800 Scudders Mill Road, Plainsboro, NJ, 08536.
Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 10/31/2009

Date of reporting period: 11/01/2008 – 01/31/2009

Item 1 – Schedule of Investments

BlackRock Preferred Income Strategies Fund, Inc.             
Schedule of Investments January 31, 2009 (Unaudited)    (Percentages shown are based on Net Assets) 
 
Preferred Securities                 
            Par     
Industry    Capital Trusts        (000)           Value 
Building Products - 0.6%    C8 Capital SPV Ltd., 6.64% (a)(b)(c)        $ 3,915    $ 1,643,830 
Capital Markets - 4.1%    Ameriprise Financial, Inc., 7.518%, 6/01/66 (c)    7,600    4,102,252 
    Lehman Brothers Holdings Capital Trust V,         
    3.0125% (b)(c)(d)(e)        6,400    640 
    State Street Capital Trust III, 8.25% (b)(c)(f)    2,920    2,220,280 
                                                                State Street Capital Trust IV, 2.996%,
    6/01/67 (c)        12,535    4,274,360 
                10,597,532 
Commercial Banks - 22.9%    ABN AMRO North America Holding Preferred Capital         
    Repackaging Trust I, 6.523% (a)(b)(c)(f)    12,035    8,568,968 
    Abbey National Capital Trust I, 8.963% (b)(c)    2,811    1,825,005 
    BB&T Capital Trust IV, 6.82%, 6/12/77 (c)    8,350    4,923,294 
    Bank One Capital III, 8.75%, 9/01/30 (f)    2,000    1,841,334 
                                                                Bank of Ireland Capital Funding II, LP,
    5.571% (a)(b)(c)        8,065    801,500 
                                                                Bank of Ireland Capital Funding III, LP,
    6.107% (a)(b)(c)        8,575    852,586 
    Barclays Bank Plc, 5.926% (a)(b)(c)        8,500    3,652,450 
    First Empire Capital Trust II, 8.277%, 6/01/27    3,630    2,445,313 
                                                                HSBC America Capital Trust I, 7.808%,
    12/15/26 (a)        2,000    1,594,274 
                                                                HSBC Capital Funding LP/Jersey Channel
    Islands, 10.176% (a)(b)(c)(f)        4,835    4,186,486 
                                                                HSBC Finance Capital Trust IX, 5.911%,
    11/30/35 (c)        7,300    2,826,560 
    Huntington Capital III, 6.65%, 5/15/37 (c)    2,885    1,229,878 
    Lloyds Banking Group Plc, 6.657%, 11/21/49 (a)(b)(c)    5,000    944,535 
    National City Preferred Capital Trust I, 12% (b)(c)    1,100    988,724 
                                                                NationsBank Capital Trust III, 1.644%,
    1/15/27 (c)        13,470    6,521,110 
    Regions Financing Trust II, 6.625%, 5/15/47 (c)    3,935    2,072,989 
    Royal Bank of Scotland Group Plc, 7.648% (b)(c)    3,930    1,139,150 
    Royal Bank of Scotland Group Plc, 9.118% (b)(f)    4,800    1,751,904 
    SMFG Preferred Capital USD 3 Ltd., 9.50% (a)(b)(c)    3,550    3,377,639 
    Standard Chartered Bank, 7.014% (a)(b)(c)    9,575    3,744,313 
    SunTrust Preferred Capital I, 5.853% (b)(c)    2,650    1,378,000 
    Wells Fargo Capital XIII Series GMTN, 7.70% (b)(c)    3,525    2,527,372 
                59,193,384 
Consumer Finance - 1.4%    MBNA Capital A, 8.278%, 12/01/26 (f)    4,630    3,551,358 
Diversified Financial Services - 6.5%    AgFirst Farm Credit Bank, 8.393%, 12/15/16 (c)    4,000    2,831,168 
    Farm Credit Bank of Texas Series 1, 7.561% (b)(c)    2,500    1,274,000 
    ING Capital Funding Trust III, 8.439% (b)(c)    6,066    2,731,999 
    JPMorgan Chase & Co., 7.90% (b)(c)        2,175    1,653,109 
                                                                JPMorgan Chase Capital XXIII, 3.149%,
    5/15/77 (c)(g)        8,375    3,353,007 
    JPMorgan Chase Capital XXV, 6.80%,             
    10/01/37        6,150    4,855,044 
                16,698,327 
Electric Utilities - 1.3%    PPL Capital Funding, 6.70%, 3/30/67 (c)    5,925    3,258,750 
 
 
1

BlackRock Preferred Income Strategies Fund, Inc.             
Schedule of Investments January 31, 2009 (Unaudited)    (Percentages shown are based on Net Assets) 
            Par     
Industry    Capital Trusts        (000)           Value 
Insurance - 55.1%    AON Corp., 8.205%, 1/01/27 (f)        $ 10,000    $ 6,288,960 
    Ace Capital Trust II, 9.70%, 4/01/30        11,300    9,178,482 
    The Allstate Corp., 6.50%, 5/15/57 (c)    12,775    8,247,783 
    The Allstate Corp. Series B, 6.125%, 5/15/67 (c)    10,450    6,926,970 
    American International Group, Inc., 8.175%,         
    5/15/58 (a)(c)        13,925    5,168,807 
    American International Group, Inc., 6.25%,         
    3/15/87        11,220    3,632,475 
    Chubb Corp., 6.375%, 3/29/67 (c)        17,700    11,947,411 
    Everest Reinsurance Holdings, Inc., 6.60%,         
    5/01/67 (c)        14,280    5,885,602 
    Farmers Exchange Capital, 7.05%, 7/15/28 (a)    15,000    8,740,950 
    GE Global Insurance Holding Corp., 7.75%,         
    6/15/30 (f)        10,000    8,923,670 
    Genworth Financial, Inc., 6.15%, 11/15/66 (c)    3,000    507,216 
    Liberty Mutual Group, Inc., 7%, 3/15/37 (a)(c)    10,150    4,724,449 
    Liberty Mutual Group, Inc., 10.75%, 6/15/88 (a)(c)    7,925    4,755,000 
    Lincoln National Corp., 7%, 5/17/66 (c)    12,000    5,544,600 
    Lincoln National Corp., 6.05%, 4/20/67 (c)    5,025    2,261,250 
    Nationwide Life Global Funding I, 6.75%, 5/15/67    9,675    4,228,314 
    Oil Casualty Insurance Ltd., 8%, 9/15/34 (a)    3,605    2,415,408 
    Principal Life Insurance Co., 8%, 3/01/44 (a)    6,325    5,136,963 
    Progressive Corp., 6.70%, 6/15/37 (c)    11,650    6,563,389 
                                                                Reinsurance Group of America, 6.75%,
    12/15/65 (c)        3,000    1,113,765 
    Swiss Re Capital I LP, 6.854% (a)(b)(c)    8,875    3,082,829 
    The Travelers Cos., Inc., 6.25%, 3/15/67 (c)    22,850    15,076,087 
    ZFS Finance (USA) Trust IV, 5.875%, 5/09/32 (c)    1,300    481,559 
    ZFS Finance (USA) Trust V, 6.50%, 5/09/67 (a)(c)    17,110    7,699,500 
                                                                Zenith National Insurance Capital Trust I,
    8.55%, 8/01/28 (a)        3,750    3,515,625 
                142,047,064 
Multi-Utilities - 3.5%    Dominion Resources Capital Trust I, 7.83%,         
    12/01/27        10,000    8,203,870 
    Puget Sound Energy, Inc. Series A, 6.974%,         
    6/01/67 (c)        1,825    926,187 
                9,130,057 
Oil, Gas & Consumable Fuels - 5.2%    Enterprise Products Operating LLC, 8.375%,         
    8/01/66 (c)        4,225    2,661,750 
    Southern Union Co., 7.20%, 11/01/66 (c)    14,400    6,120,000 
    TransCanada PipeLines Ltd., 6.35%, 5/15/67 (c)    8,300    4,723,372 
                13,505,122 
Road & Rail - 1.0%    BNSF Funding Trust I, 6.613%, 12/15/55 (c)    3,750    2,596,875 
Thrifts & Mortgage Finance - 0.6%    Webster Capital Trust IV, 7.65%, 6/15/37 (c)    3,875    1,592,927 
    Total Capital Trusts - 102.2%            263,815,226 
    Preferred Stocks        Shares     
Capital Markets - 0.4%    Deutsche Bank Contingent Capital Trust II, 6.55%    72,200    968,202 
Commercial Banks - 10.6%    Barclays Bank Plc, 8.125%        225,000    3,150,000 
    First Tennessee Bank NA, 3.90% (a)(c)    4,650    1,578,094 
    HSBC USA, Inc. Series D, 4.50% (c)        131,700    1,621,227 
    HSBC USA, Inc. Series H, 6.50%        120,000    2,170,800 
    Provident Financial Group, Inc., 7.75%    166,800    3,044,100 
    Royal Bank of Scotland Group Plc Series L, 5.75%    20,000    90,800 
2

BlackRock Preferred Income Strategies Fund, Inc.             
Schedule of Investments January 31, 2009 (Unaudited)    (Percentages shown are based on Net Assets) 
 
Industry    Preferred Stocks           Shares           Value 
    Royal Bank of Scotland Group Plc Series M, 6.40%    15,000    $ 75,750 
    SG Preferred Capital II, 6.302% (c)(h)        23,000    12,420,000 
    Santander Finance Preferred SA Unipersonal, 6.80%    188,600    3,211,858 
                27,362,629 
Diversified Financial Services - 4.3%    Cobank ACB, 7% (a)(h)        152,000    4,086,064 
    JPMorgan Chase Capital XXI Series U, 2.12%,         
    2/02/37 (c)        15,525,000    6,990,116 
                11,076,180 
Electric Utilities - 4.2%    Alabama Power Co., 5.83%        14,000    327,600 
    Alabama Power Co., 6.50%        145,000    3,335,000 
    Entergy Arkansas, Inc., 6.45%        114,400    2,470,331 
    Entergy Louisiana LLC, 6.95%        49,850    2,492,500 
    Interstate Power & Light Co. Series B, 8.375%    80,000    2,136,000 
                10,761,431 
Insurance - 26.1%    AXA SA, 6.379% (a)(c)        13,470,000    5,823,566 
    Aspen Insurance Holdings Ltd., 7.401% (c)    194,000    2,847,920 
    Axis Capital Holdings Ltd. Series A, 7.25%    129,300    2,191,635 
    Axis Capital Holdings Ltd. Series B, 7.50% (c)    36,000    2,206,127 
    Endurance Specialty Holdings Ltd. Series A, 7.75%    139,200    2,257,824 
    Financial Security Assurance Holdings Ltd.,         
    6.40% (a)(c)        6,930,000    1,694,454 
                                                                Great West Life & Annuity Insurance Co.,
    7.153% (a)(c)        7,500,000    4,557,615 
    MetLife, Inc., 6.40%, 12/15/66        16,825,000    10,229,364 
    MetLife, Inc. Series B, 6.50%        904,400    15,555,680 
    PartnerRe Finance II, 6.44% (c)        5,700,000    2,216,234 
    Prudential Plc, 6.50%        92,400    1,556,940 
    RenaissanceRe Holding Ltd. Series D, 6.60%    435,000    8,004,000 
    Zurich RegCaPS Funding Trust, 6.58% (a)(c)    9,800    8,296,313 
                67,437,672 
Multi-Utilities - 3.3%    Dominion Resources, Inc., 7.50% (c)        8,400,000    4,872,000 
    Pacific Gas & Electric Co. Series A, 6%    140,000    3,605,000 
                8,477,000 
Thrifts & Mortgage Finance - 0.3%    Sovereign Bancorp, Inc. Series C, 7.30% (i)    48,000    744,000 
Wireless Telecommunication    Centaur Funding Corp., 9.08% (a)        2,423    1,525,733 
Services - 0.6%                 
    Total Preferred Stocks - 49.8%            128,352,847 
    Real Estate Investment Trusts             
Real Estate Investment    BRE Properties, Inc. Series D, 6.75%        35,000    579,250 
Trusts (REITs) - 6.6%    Developers Diversified Realty Corp., 8%    400,000    2,960,000 
    First Industrial Realty Trust, Inc., 6.236% (c)    2,390    898,491 
    Firstar Realty LLC, 8.875% (a)        4,000    4,087,500 
    Kimco Realty Corp. Series F, 6.65%        50,000    770,000 
    Public Storage, Inc. Series I, 7.25%        160,000    3,715,200 
    Public Storage Series F, 6.45%        40,000    743,600 
    Public Storage Series M, 6.625%        71,900    1,438,000 
    Regency Centers Corp. Series D, 7.25%    100,000    1,800,000 
    Total Real Estate Investment Trusts - 6.6%        16,992,041 
                   Par     
    Trust Preferreds           (000)     
Commercial Banks - 0.4%    KeyCorp Capital IX, 6.75%        $ 1,868    1,077,151 
Communications Equipment - 0.5%    Corporate-Backed Trust Certificates,             
    Motorola Debenture Backed Series 2002-14,         
    8.375%, 11/15/28        2,000    1,181,846 

3

BlackRock Preferred Income Strategies Fund, Inc.             
Schedule of Investments January 31, 2009 (Unaudited)    (Percentages shown are based on Net Assets) 
 
            Par     
Industry    Trust Preferreds        (000)           Value 
Consumer Finance - 4.3%    Capital One Capital II, 7.50%, 6/15/66    $ 16,702    $ 11,120,052 
Diversified Financial Services - 1.4%    Citigroup Capital XVII, 6.35%, 3/15/67    4,548    1,779,696 
    ING Groep NV, 7.20% (b)        3,500    1,771,700 
                3,551,396 
Electric Utilities - 3.7%    Georgia Power Co. Series O, 1.475%, 4/15/33    1,250    1,243,812 
    HECO Capital Trust III, 6.50%, 3/18/34    1,250    1,096,326 
    National Rural Utilities Cooperative Finance         
    Corp., 6.75%, 2/15/43        1,250    1,144,387 
    PPL Energy Supply LLC, 7%, 7/15/46        5,835    5,979,092 
                9,463,617 
Gas Utilities - 5.3%    Southwest Gas Capital II, 7.70%, 9/15/43    15,125    13,593,258 
Insurance - 4.3%    ABN AMRO North America Capital Funding         
    Trust II, 2.874% (a)(b)(c)        11,000    1,629,601 
    Lincoln National Capital VI Series F, 6.75%,         
    9/11/52        5,000    3,649,062 
    W.R. Berkley Capital Trust II, 6.75%, 7/26/45    7,375    5,876,553 
                11,155,216 
Thrifts & Mortgage Finance - 1.7%    Countrywide Financial Corp., 6.75%, 4/01/33    9,451    4,519,458 
    Total Trust Preferreds - 21.6%            55,661,994 
    Total Preferred Securities - 180.2%        464,822,108 
    Corporate Bonds             
Beverages - 1.3%    Anheuser-Busch InBev Worldwide, Inc.,         
    8.20%, 1/15/39 (a)        3,200    3,224,698 
Insurance - 3.2%    Oil Insurance Ltd., 7.558% (a)(b)(c)        5,000    2,009,600 
    QBE Insurance Group Ltd., 9.75%, 3/14/14 (a)    5,967    5,916,048 
                                                                         Structured Asset Repackaged Trust Series
    2004-1, 1.633%, 4/21/11 (c)        425    309,960 
                8,235,608 
    Total Corporate Bonds - 4.5%            11,460,306 
    Investment Companies        Shares     
    UltraShort Real Estate ProShares        145,000    8,601,400 
    Total Investment Companies - 3.3%            8,601,400 
    Total Long-Term Investments             
    (Cost - $837,881,919) - 188.0%            484,883,814 
            Beneficial     
            Interest     
    Short-Term Securities           (000)     
    BlackRock Liquidity Series,             
    LLC Cash Sweep Series, 0.66% (j)(k)        $ 20,955    20,954,902 
    Total Short-Term Securities             
    (Cost - $20,954,902) - 8.1%            20,954,902 
    Total Investments             
    (Cost - $858,836,821*) - 196.1%            505,838,716 
    Liabilities in Excess of Other Assets - (6.8)%        (17,585,489) 
    Preferred Shares, at Redemption Value - (89.3)%        (230,294,611) 
    Net Assets Applicable to Common Shares - 100.0%    $ 257,958,616 
       
       * The cost and unrealized appreciation (depreciation) of investments as of January 31, 2009,         
           as computed for federal income tax purposes, were as follows:             
           Aggregate cost    $ 859,893,097             
           Gross unrealized appreciation    $ 3,258,510             
           Gross unrealized depreciation    (357,312,891)             
           Net unrealized depreciation    $ (354,054,381)             

4

BlackRock Preferred Income Strategies Fund, Inc.

Schedule of Investments January 31, 2009 (Unaudited)

(a) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions
exempt from registration to qualified institutional investors.
(b) Security is perpetual in nature and has no stated maturity date.
(c) Variable rate security. Rate shown is as of report date.
(d) Non-income producing security.
(e) Issuer filed for bankruptcy and/or is in default of interest payments.
(f) All or a portion of security held as collateral in connection with open reverse repurchase agreements.
(g) All or a portion of security has been pledged as collateral in connection with open financial futures contracts.
(h) Security is valued in accordance with the Fund’s fair valuation policy.
(i) Depositary receipts.
(j) Investments in companies considered to be an affiliate of the Fund, for purposes of
Section 2(a)(3) of the Investment Company Act of 1940, were as follows:

    Net     
Affiliate    Activity    Income 
BlackRock Liquidity Series, LLC         
   Cash Sweep Series    $ (7,848,102)    $ 64,859 

  (k) Represents the current yield as of report date.
• For Fund compliance purposes, the Fund's industry classifications refer to any one or more of the industry sub-classifications
used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This
definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease.

• Financial futures contracts purchased as of January 31, 2009 were as follows:

        Expiration    Face    Unrealized     
   Contracts    Issue    Date           Amount    Depreciation     
   296    10-Year US                 
    Treasury Notes    March 2009    $ 36,591,275    $ (280,400)     
 
• Reverse repurchase agreements outstanding as of January 31, 2009 were as follows:     
    Interest    Trade    Maturity    Net Closing               Face 
   Counterparty    Rate    Date    Date    Amount    Amount 
   Barclays Bank Plc    2.97%    12/03/08    5/15/09    $ 7,220,226    $ 7,125,000 
   Barclays Bank Plc    2.93%    12/05/08    5/15/09    2,778,476    2,743,200 
   Barclays Bank Plc    2.75%    12/11/08    5/15/09    7,713,388    7,625,430 
   Barclays Bank Plc    2.75%    12/30/08    5/15/09    8,157,602    8,073,725 
   Barclays Bank Plc    1.87%    1/09/09    5/15/09    2,342,432    2,327,200 
   Total                $ 28,212,124    $ 27,894,555 

• Credit default swaps on single-name issues - buy protection outstanding as of
January 31, 2009 were as follows:

    Pay            Notional    Unrealized 
    Fixed            Amount    Appreciation 
Issuer    Rate    Counterparty    Expiration     (000)    (Depreciation) 
Carnival Corp.    2.35%    Goldman Sachs Bank             
        USA    December 2013    $ 3,000    $ 131,487 
American Express                     
Co.    4.05%    Citibank NA    December 2013    $ 5,000    (238,210) 
Altria Group, Inc.    1.03%    Deutsche Bank AG    December 2013    $ 8,000    45,448 
Total                    $ (61,275) 

5

BlackRock Preferred Income Strategies Fund, Inc.

Schedule of Investments January 31, 2009 (Unaudited)

    Receive                Notional     
    Fixed            Credit    Amount    Unrealized 
Issuer    Rate    Counterparty    Expiration    Rating1    (000)2    Depreciation 
Philip Morris            December             
International, Inc.    1.73%    Deutsche Bank AG    2013    A    $ 8,000    $ (34,560) 
      1 Using Standard and Poor's rating of the issuer.                 

  2 The maximum potential amount the Fund may pay should a negative credit event take place as defined under the terms of the agreement.
 
  		•  Effective November 1, 2008, the Fund adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, "Fair Value Measurements" ("FAS 157"). FAS 157 clarifies the definition of fair value, establishes a framework for measuring fair values and requires additional disclosures about the use of fair value measurements. Various inputs are used in determining the fair value of investments, which are as follows:
     
     
  		• Level 1 - price quotations in active markets/exchanges for identical securities
     
     
  		• Level 2 - other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, and default rates) or other market-corroborated inputs)
     
     
  		• Level 3 - unobservable inputs based on the best information available in the circumstance, to the extent observable inputs are not available (including the Fund's own assumption used in determining the fair value of investments)
     
      The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent financial statements as contained in its annual report.
     

    The following table summarizes the inputs used as of January 31, 2009 in determining the fair valuation
    of the Fund's investments:

    Valuation                 
    Inputs    Investments in Securities    Other Financial Instruments* 
        Assets    Liabilities    Assets    Liabilities 
    Level 1    $ 117,166,536    -    -    $ (280,400) 
    Level 2    372,166,116    $ (27,894,555)    $ 176,935    (238,210) 
    Level 3    16,506,064    -    -    (34,560) 
    Total    $ 505,838,716    $ (27,894,555)    $ 176,935    $ (553,170) 

    * Other financial instruments are futures and swap contracts. Futures and swap contracts
    are valued at the unrealized appreciation/depreciation on the instrument.
    The following is a reconciliation of investments for unobservable inputs (Level 3) used
    in determining fair value:

        Investments in    Other Financial 
        Securities    Instruments* 
    Balance, as of November 1, 2008    -    - 
    Accrued discounts/premiums    -    - 
    Realized gain (loss)    -    - 
    Change in unrealized appreciation (depreciation)    $ (15,542,780)    $ (65,256) 
    Net purchases (sales)    -    - 
    Net transfers in/out of Level 3    32,048,844    30,696 
    Balance, as of January 31, 2009    $ 16,506,064    $ (34,560) 

    * Other financial instruments are swap contracts. Swap contracts are valued at the unrealized
    appreciation/depreciation on the instrument.

    6

    Item 2 – Controls and Procedures

    2(a) – The registrant’s principal executive and principal financial officers or persons performing
    similar functions have concluded that the registrant’s disclosure controls and procedures (as
    defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the
    “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the
    evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act
    and Rule 13(a)-15(b) under the Securities Exchange Act of 1934, as amended.

    2(b) – There were no changes in the registrant’s internal control over financial reporting (as
    defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal
    quarter that have materially affected, or are reasonably likely to materially affect, the
    registrant’s internal control over financial reporting.

    Item 3 – Exhibits

    Certifications – Attached hereto

    Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment
    Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by
    the undersigned, thereunto duly authorized.

    BlackRock Preferred Income Strategies Fund, Inc.

    By: /s/ Donald C. Burke
    Donald C. Burke
    Chief Executive Officer of
    BlackRock Preferred Income Strategies Fund, Inc.

    Date: March 25, 2009

    Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment
    Company Act of 1940, this report has been signed below by the following persons on behalf
    of the registrant and in the capacities and on the dates indicated.

    By: /s/ Donald C. Burke
    Donald C. Burke
    Chief Executive Officer (principal executive officer) of
    BlackRock Preferred Income Strategies Fund, Inc.

    Date: March 25, 2009

    By: /s/ Neal J. Andrews
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock Preferred Income Strategies Fund, Inc.

    Date: March 25, 2009