Conversion of Securities - CORRECTION

BlackRock Greater Europe Investment Trust plc (the "Company")

Conversion of Subscription Shares - correction

This is a correction to the Company's announcement of 9 May 2011 regarding the
exercise of Subscription Share Rights by holders of Subscription Shares.

Contrary to that announcement, the Company has not as yet issued the 227,425
Ordinary Shares arising on the exercise of Subscription Share Rights. A block
listing application has been made for 18,742,451 Ordinary Shares of 0.1 pence
each in the Company to be admitted to the Official List of the UK Listing
Authority and to trading on the London Stock Exchange. Allotment and issue of
the 227,425 Ordinary Shares will only be effected upon such block listing
application being approved.

A further announcement will be made in due course as and when the Ordinary
Shares are issued.

10 May 2011

For further information, please contact:

Caroline Driscoll
BlackRock Investment Management (UK) Limited - Company Secretary
Telephone [phone]