Result of Tender offer

Not for release, publication or distribution in or into the United States,
Canada, Australia or Japan

21 May 2012

                 BlackRock Greater Europe Investment Trust plc                 

                          Results of the Tender Offer                          

Background

The Company offered to repurchase up to 20 per cent. (24,360,520) of its issued
Ordinary Shares excluding any Shares held in treasury (121,802,604).

The Tender Offer was undersubscribed and 2,025,685 Ordinary Shares representing
1.66% of the issued Ordinary Shares (excluding treasury shares) were tendered.
The Tender will be satisfied in full.

Expected timetable of events

Calculation date                        close of business on 31 May 2012
Tender price announced                  1 June 2012
Cheques despatched and payments
made through CREST                      as soon as practicable after 7 June 2012
Balancing Ordinary Share certificates
despatched and CREST accounts settled   as soon as practicable after 7 June 2012

Definitions
Terms defined in the Circular have the same meaning when used herein unless the
context otherwise requires.

Enquiries
BlackRock Investment Management (UK) Limited 020 7743 3000
Simon White
Caroline Driscoll

Canaccord Genuity Limited 020 7523 8000
David Yovichic

Canaccord Genuity 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 Canaccord
Genuity Limited nor for providing advice in relation to the Tender Offer.