NOTE 1. ORGANIZATION & ACCOUNTING POLICIES
The BlackRock Investment Quality Municipal Trust Inc. (the "Trust") was organized in Maryland on November
19, 1992 as a diversified, closed-end management investment company. The Trust's investment objective is to
manage a portfolio of investment quality securities while providing high current income exempt from regular
Federal income tax consistent with the preservation of capital. The ability of issuers of debt securities held by the
Trust to meet their obligations may be affected by economic developments in a specific industry or region. No
assurance can be given that the Trust's investment objective will be achieved.
The following is a summary of significant accounting policies followed by the Trust.
SECURITIES VALUATION: Municipal securities (including commitments to purchase such securities on a
"when-issued" basis) are valued on the basis of prices provided by dealers or pricing services approved by the
Trust's Board of Directors. In determining the value of a particular security, pricing services may use certain
information with respect to transactions in such securities, quotations from bond dealers, market transactions in
comparable securities and various relationships between securities in determining values. Short-term securities are
valued at amortized cost. Any securities or other assets for which such current market quotations are not readily
available are valued at fair value as determined in good faith under procedures established by and under the
general supervision and responsibility of the Trust's Board of Directors.
SECURITIES TRANSACTIONS AND INVESTMENT INCOME: Securities transactions are recorded on
trade date. Realized and unrealized gains and losses are calculated on the identified cost basis. Interest income is
recorded on the accrual basis and the Trust accretes original issue discount or amortizes premium on securities
purchased using the interest method.
FEDERAL INCOME TAXES: It is the Trust's intention to continue to