Net Asset Value(s)

NET ASSET VALUE

BLACKROCK GREATER EUROPE INVESTMENT TRUST PLC

The unaudited net asset value for BlackRock Greater Europe Investment Trust plc
at close of business on 12 May 2011 was:

216.30p Capital only (undiluted)
221.27p Including current year income (undiluted)
210.98p Capital only (Diluted for subscription shares)
215.16p Including current year income (Diluted for subscription shares)
210.98p Capital only (Diluted for subscription shares and treasury shares)
215.16p Including current year income (Diluted for subscription shares and
treasury shares)

Notes:

1. Investments have been valued on a bid price basis.

2. Revenue items included in net asset value, with dividends payable deducted
on the ex-dividend date.

3. Following the conversion of 227,425 Subscription Shares into Ordinary Shares
on 12 May 2011, the undiluted net asset value above has been calculated based
on 100,333,917 ordinary shares and 18,515,026 subscription shares in issue. The
Company also has 2,898,166 ordinary shares in treasury.

4. For the latest daily net asset value, previous month end performance
statistics, asset allocation and ten largest holdings of the BlackRock managed
Investment Trusts; see BLRKINDEX on Reuters or page 8800 on ICB (Topic 3).