Result of Tender offer

Not for release, publication or distribution in or into the United States,     
Canada, Australia or Japan                                                     
                                                                               
01 December 2011                                                               
                                                                               
                                                                               
                                                                               
                 BlackRock Greater Europe Investment Trust plc                 
                                                                               
                          Results of the Tender Offer                          
                                                                               
Background                                                                     
                                                                               
The Company offered to repurchase up to 20 per cent of its issued Ordinary     
Shares excluding treasury shares (96,368,264).                                 
                                                                               
The Tender Offer was undersubscribed and 1,495,164 Ordinary Shares (1.55% of   
the issued Ordinary Shares excluding treasury shares) were tendered. The Tender
will be satisfied in full. All tendered Ordinary Shares will be held in        
Treasury.                                                                      
                                                                               
Following implementation of the Tender Offer the Company will have 97,608,052  
shares in issue which will include 2,734,952 Ordinary Shares which are held in 
Treasury.                                                                      
                                                                               
Following the Tender Offer the number of Ordinary Shares that the Company has  
in issue, less the total number of Ordinary Shares held by the Company in      
Treasury, is 94,873,100.                                                       
                                                                               
Tender Price                                                                   
                                                                               
The Tender Price calculated as at close of business on 30 November 2011 (the   
"Calculation Date") was 166.11 pence per Ordinary Share.                       
                                                                               
Payments to Shareholders by cheque, in the case of certificated holders, will  
be made in pounds sterling and are expected to be paid on or as soon as        
practicable after 5 December 2011.                                             
                                                                               
Payments through CREST, in the case of uncertificated holders, will be made in 
pounds sterling and are expected to be paid on or as soon as practicable after 
5 December 2011.                                                               
                                                                               
Balancing share certificates will be despatched and CREST accounts will be     
settled on or as soon as practicable after 5 December 2011.                    
                                                                               
Definitions                                                                    
                                                                               
Terms defined in the Circular have the same meaning when used herein unless the
context otherwise requires.                                                    
                                                                               
Enquiries                                                                      

BlackRock Investment Management (UK)           020 7743 3000                   
Limited                                                                        
Jonathan Ruck Keene                                                            
Caroline Driscoll                                                              
                                                                               
Collins Stewart Europe Limited                                                 
David Yovichic                                 020 7523 8000                   
 

Collins Stewart Europe Limited is acting for the Company in connection with the
Tender Offer and no one else and will not be responsible to anyone other than  
the Company for providing the protections offered to clients of Collins Stewart
Europe Limited nor for providing advice in relation to the Tender Offer.