UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-PX ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-08497 Name of Fund: BlackRock Corporate High Yield Fund III, Inc. (CYE) Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809 Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock Corporate High Yield Fund III, Inc., 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011 Registrant's telephone number, including area code: (800) 882-0052, Option 4 Date of fiscal year end: 05/31 Date of reporting period: 07/01/2007 -- 06/30/2008 Item 1 -- Proxy Voting Record -- Attached hereto. Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. BlackRock Corporate High Yield Fund III, Inc. By: /s/ Donald C. Burke Donald C. Burke Chief Executive Officer of BlackRock Corporate High Yield Fund III, Inc. Date: August 25, 2008 ******************************* FORM N-Px REPORT ******************************* ICA File Number: 811-08497 Reporting Period: 07/01/2007 - 06/30/2008 BlackRock Corporate High Yield Fund III, Inc. ================ BLACKROCK CORPORATE HIGH YIELD FUND III, INC. ================= GEO SPECIALTY CHEMICALS INC. Ticker: GSCQ Security ID: 37246R205 Meeting Date: NOV 15, 2007 Meeting Type: Annual Record Date: OCT 4, 2007 # Proposal Mgt Rec Vote Cast Sponsor 1 Elect Director David L. Eaton For For Management 2 Elect Director Charles Macaluso For For Management 3 Elect Director Bradley E. Scher For For Management 4 Elect Director Kenneth A. Ghazey For For Management 5 Increase in the Authorized Share Capital None For Management from 6 Million Shares to 120 Million Shares -------------------------------------------------------------------------------- LODGIAN, INC. Ticker: LGN Security ID: 54021P403 Meeting Date: APR 24, 2008 Meeting Type: Annual Record Date: MAR 10, 2008 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Stewart J. Brown For For Management 1.2 Elect Director Alex R. Lieblong For For Management 1.3 Elect Director Paul J. Garity For For Management 1.4 Elect Director Peter T. Cyrus For For Management 1.5 Elect Director Michael J. Grondahl For For Management 1.6 Elect Director W. Blair Allen For For Management 1.7 Elect Director Mark S. Oei For For Management 2 Ratify Auditors For For Management ========== END NPX REPORT