Issue of Equity

BlackRock Greater Europe Investment Trust plc

28 July 2010

Results of General Meeting and Issue of Subscription Shares

BlackRock Greater Europe Investment Trust plc (the "Company") announces that at
the General Meeting of the Company held on 27 July 2010 to consider a proposal
to make a bonus issue of Subscription Shares, the resolution giving effect to
the Bonus Issue was duly passed without amendment.

Issue of Subscription Shares

A total of 19,806,520 Subscription Shares have been allotted, subject to
listing, to Ordinary Shareholders on the register as at the close of business
on 23 July 2010, by way of a bonus issue on the basis of one Subscription Share
for every five Ordinary Shares held at that date.

The subscription share rights conferred by the Subscription Shares will be
exercisable on each of 31 January, 30 April, 31 July and 31 October between 31
October 2010 and 31 October 2012 (both dates inclusive).

The Subscription Price, as defined in the combined Prospectus and Circular, is
equal to the published unaudited NAV per Ordinary Share as at the close of
business on 26 July 2010 (including current period revenue) (the "Unaudited
NAV") plus a one per cent. premium to such amount, rounded up to the nearest
whole penny.

Accordingly, the Subscription Price is 183.00 pence, being a 1 per cent.
premium to the Unaudited NAV of 180.92 pence, rounded up to the nearest whole
penny.

Application has been made for the Subscription Shares to be admitted to the
Official List and to trading on the London Stock Exchange. It is expected that
dealings in the Subscription Shares will commence at 8.00 a.m. on 30 July 2010.
It is anticipated that certificates in respect of the Subscription Shares will
be sent out in the week commencing 2 August 2010.

Terms used and not defined in this announcement shall bear the meanings given
to them in the combined Circular and Prospectus dated 24 June 2010.

Enquiries:

Caroline Driscoll, BlackRock Investment Management (UK) Limited - 020 7743 2427

David Yovichic, Collins Stewart Europe Limited - 020 7523 8361