BlackRock Municipal Income Trust (the Trust) is a diversified, closed-end management investment company. The Trust's investment objective is to provide high current income exempt from regular federal income tax consistent with the preservation of capital. The Trust will invest at least 80% of its total assets in municipal bonds that are investment-grade quality, or determined by its investment advisor to be of equivalent credit quality at time of purchase. The Trust may invest up to 20% of its total assets in municipal bonds that are rated, at the time of investment, Ba/BB or B by Moody's Investors Service, Standard & Poor's or Fitch, or that are unrated but judged to be of comparable quality by BlackRock. The Trust's investment advisor is BlackRock Advisors, LLC, an indirect, wholly owned subsidiary of BlackRock, Inc. Its sub-advisor is BlackRock Investment Management, LLC, an affiliate of the advisor.