Conversion of Securities

BlackRock Greater Europe Investment Trust plc

Conversion of Subscription Shares on 31 October 2010

Shareholders who hold Subscription Shares in the Company are able to exercise
their Subscription Share Rights on 1 November 2010


Subscription Share Conversion of shares held in Certificated form

Shareholders wishing to convert their Subscription Shares, who hold their
shares in certificated form, should refer to the instructions on the reverse of
their Subscription Share Certificate(s). Shareholders must lodge the relevant
Subscription Share Certificate(s) at the office of Computershare Priority
Applications, Corporate Actions, Bristol BS99 6AJ during the period of 28 days
ending at 5.00 pm on the relevant Subscription Date (being 1 November 2010),
having completed the notice of exercise, and a remittance for the aggregate
Subscription Price for the Ordinary Shares in respect of which the Subscription
Rights are being exercised. Shares will be allotted within ten business days of
the relevant Subscription Date being 15 November 2010.


Subscription Share Conversion through CREST

Shareholders wishing to convert their Subscription Shares, who hold their
shares through CREST, should use the following participation and member account
IDs when processing their applications:

CREST Participant ID = ORA36
CREST Member Account ID = GREATER

The USE (Unmatched Stock Event) instruction should be inputted to settle by
5.00 pm on the relevant Subscription Date (1 November 2010), in order to
receive the new Ordinary Shares by the tenth business day of the relevant
Subscription Date being 15 November 2010.


Subscription Share Conversion through the BlackRock Stocks & Shares ISA or
Share Plan

BlackRock Greater Europe investors wishing to convert their Subscription Shares
should download the Savings Plan Subscription Shares Conversion Form or Stocks
& Shares ISA Subscription Shares Conversion Form which will shortly be
available from www.blackrock.co.uk/its, complete and return it to the address
given at the top of the form. Forms must be received at least seven business
days before the relevant Subscription Date (the current relevant Subscription
Date being 1 November 2010). Shares arising from the conversion will be issued
within ten business days of that Subscription Date.


Market Values

The middle market quotations for the Ordinary Shares and for the Subscription
Shares in BlackRock Greater Europe Investment Trust plc, as derived from the
Stock Exchange Daily Official List, on the first dealing day in each of the six
months before the date of this announcement, and 27 September 2010, the latest
practicable date before the date of this announcement, were:

                           Ordinary Shares   Subscription Shares 
                                                                 
1 April 2010               182.00p           N/A                 
4 May 2010                 173.50p           N/A                 
1 June 2010                157.00p           N/A                 
1 July 2010                152.00p           N/A                 
2 August 2010              165.75p           12.00p              
1 September 2010           164.00p           10.75p              
27 September 2010          176.75p           16.00p              


Exercise Dates

The Subscription Share rights conferred by the Subscription Shares will be
exercisable on each of 31 January, 30 April, 31 July and 31 October (and if any
such date is not a Business Day, the succeeding Business Day) between 31
October 2010 and 31 October 2012 (both dates inclusive).


Exercise Price

183.00 pence per share


Contact:

Ms C Driscoll
Company Secretary
BlackRock Investment Management (UK) Limited

Date: 28 September 2010