BlackRock California Municipal Income Trust (the Trust) is a non-diversified, closed-end management investment company. The Trust�s investment objective is to provide income exempt from regular United States federal income and California income taxes. The Trust invests primarily in municipal obligations exempt from federal income taxes and California income taxes. The Trust invests at least 80% of its assets in municipal obligations that are investment grade quality. The Trust may invest directly in such securities or synthetically through the use of derivatives. The Trust�s investment advisor is BlackRock Advisors, LLC, an indirect, wholly owned subsidiary of BlackRock, Inc. BlackRock Financial Management, Inc. is the sub-advisor of the Trust.