NEW YORK--(BUSINESS WIRE)--BlackRock Enhanced Government Fund, Inc. (NYSE:EGF, CUSIP: 09255K108) announced the expiration of the Fund’s annual repurchase offer for its shares of common stock. The Repurchase Offer and withdrawal rights expired at 5:00 p.m., Eastern Time, on November 22, 2016. The Fund offered to repurchase up to 10% of its outstanding shares of common stock (the “Shares”) for cash at a price equal to the net asset value of the Shares as of the close of regular trading on the New York Stock Exchange on December 6, 2016, subject to a repurchase fee of 2% of the value of the Shares repurchased, which will be deducted from the repurchase price. As of Tuesday, November 22, 2016, 7,216,866 Shares of the Fund were outstanding. A repurchase amount of 10% of the Shares outstanding as of November 22, 2016 would represent approximately 721,686 Shares.

The preliminary count by Computershare Trust Company, N.A., the Fund's depositary agent, indicated that approximately 4,997,098 Shares (approximately 69% of the Fund's Shares outstanding as of November 22, 2016) were validly tendered and not withdrawn prior to the expiration of the Fund's Repurchase Offer. This determination is subject to final confirmation and the proper delivery of all Shares tendered and not withdrawn.

Because the aggregate number of Shares tendered and not withdrawn exceeds the total number of Shares that the Fund offered to repurchase, the Fund will repurchase any Shares tendered on a pro rata basis. However, the Fund will accept all Shares tendered by shareholders who own, beneficially or of record, an aggregate of not more than 99 Shares and who tender all of their Shares, before pro rating Shares tendered by others.

The Fund is a diversified, closed-end management investment company. The Fund’s investment objective is to provide stockholders with current income and gains.

None of the Fund, its investment adviser or its Board of Directors has made any recommendation to any stockholder as to whether to tender or refrain from tendering Shares in the Repurchase Offer.

For client-specific information regarding the Repurchase Offer, please contact your broker or financial advisor, or in the case of registered stockholders, Computershare Trust Company, N.A., which is acting as the depositary agent in connection with the Repurchase Offer.

About BlackRock

BlackRock is a global leader in investment management, risk management and advisory services for institutional and retail clients. At September 30, 2016, BlackRock’s AUM was $5.1 trillion. BlackRock helps clients around the world meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares®(exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. As of September 30, 2016, the firm had approximately 13,000 employees in 30 countries and a major presence in global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company’s website at www.blackrock.com | Twitter: @blackrock_news | Blog: www.blackrockblog.com | LinkedIn: www.linkedin.com/company/blackrock