Interim Management Statement

MERRILL LYNCH GREATER EUROPE INVESTMENT TRUST PLC

Interim Management Statement- 3 months to 30 November 2007

To the members of Merrill Lynch Greater Europe Investment Trust plc

This interim management statement has been produced solely to provide
additional information to shareholders as a body to meet the relevant
requirements of the UK Listing Authority's Disclosure & Transparency Rules. It
should not be relied on by any other party for any other reason.

This interim management statement relates to the period from 1 September 2007
to 30 November 2007, and contains information that covers this period, and up
to the date of publication of this interim management statement.

The Company invests in a combination of large, mid and small capitalisation
European companies, together with some investment in the developing markets of
Europe. The Company is managed by James Macmillan & Samuel Vecht of BlackRock
Merrill Lynch Investment Managers.

Stock Performance

Cumulative Performance(%):

                                   One      Three        One       From
                                 Month     Months       Year     Launch
                                                                       
Net Asset Value                  -1.2%       4.1%      16.3%      97.2%
Share Price                      -4.3%       1.7%      13.8%      86.7%
FTSE World Europe ex UK          -1.0%       5.8%      18.2%      87.6%

All performance figures are in sterling terms on a total return basis.

Sector Allocation

The Company continues to have a bias towards financials through banks, along
with pharmaceuticals, materials and utilities. Exposure to Emerging Europe
decreased during the period to finish at 12.2%, with the largest country
exposures being Turkey and Russia, along with the BlackRock Eurasian Frontiers
Hedge Fund which provides a diversified exposure to the region.

Ten Largest Equity Holdings at 30 November 2007 (in alphabetical order)

Banco Santander
BlackRock Eurasian Frontiers Hedge Fund
DaimlerChrysler
Electricite de France
E.On
Intesa Sanpaolo
Nokia
Novartis
Roche Holdings
Siemens

Key Portfolio Changes

During the period the Company increased its exposure to the energy sector by
establishing new holdings in Russian oil and gas groups Transneft and Gazprom.
The company also increased its exposure to defensive names such as Deutsche
Telekom, Iberdrola and Unilever. This was partially funded by selling banks and
insurance due to ongoing concerns that uncertainty in credit markets would
negatively impact the sector's earnings. The Company also reduced its net
market exposure during the period.

Financial position and performance as at 30 November 2007

Gross Assets (£m)                           231.1
Short term borrowings (£m)                    3.4
                                                 
Net asset value                           190.04p    
Share Price                               179.75p
Ordinary Shares in Issue              119,843,969
                                                 
Actual Gearing                               1.5%
Discount to NAV                              5.4%
Average Discount over the Period             3.3%
                                                 

Material Events

There were no material events during the period.

Material Transactions

Following the semi-annual tender offer on 30 November 2007, 4,726,178 shares
were bought back and placed in treasury on 4 December.

The Board is not aware of any significant events or transactions, except as
disclosed herein, occurring between 30 November 2007 and the date of
publication of this interim management statement which would have a material
impact on the financial position of the Company. Latest information is
available by typing, www.blackrock.co.uk/its on the internet, "BLRKINDEX" on
Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV terminal).

Contact details:

Caroline Driscoll
Secretary
Tel: [phone]


16 January 2008