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 24 May 2011 was:

212.26p Capital only (undiluted)
217.66p Including current year income (undiluted)
207.58p Capital only (Diluted for subscription shares)
212.13p Including current year income (Diluted for subscription shares)
207.58p Capital only (Diluted for subscription shares and treasury shares)
212.13p 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 97,435,751 ordinary shares (excluding treasury shares). The Company also has
18,515,026 subscription shares in issue, and an additional 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).