Exhibit 4(a) INVESTMENT MANAGEMENT AGREEMENT AGREEMENT, dated September 29, 2006, between BlackRock Multi-State Municipal Series Trust, a Massachusetts business trust (the "Trust"), on behalf of BlackRock Pennsylvania Municipal Bond Fund (the "Fund"),...Investment Management Agreement • October 2nd, 2006 • Merrill Lynch Multi State Municipal Series Trust • New York
Exhibit 4(b) SUB-INVESTMENT ADVISORY AGREEMENT AGREEMENT dated September 29, 2006, between BlackRock Advisors, LLC, a Delaware limited liability company (the "Advisor"), and BlackRock Investment Management, LLC, a Delaware limited liability company...Sub-Investment Advisory Agreement • October 2nd, 2006 • Merrill Lynch Multi State Municipal Series Trust • New York
