Statement re Change of Co-Manager

BLACKROCK WILL BE RELEASING THE FOLLOWING STATEMENT TODAY.

VINCENT DEVLIN TO CO-MANAGE BLACKROCK GREATER EUROPE INVESTMENT TRUST

LONDON - 31 July 2008 - The board of the BlackRock Greater Europe Investment
Trust has appointed Citywire A-rated Vincent Devlin as co-manager of the trust.
Vincent succeeds James Macmillan, who is stepping down from the trust to focus
on his European Value and International Value funds. Sam Vecht will continue to
run the emerging Europe part of the portfolio.

Vincent has more than fourteen years' experience in fund management and more
than ten years in European equities. Since he joined BlackRock earlier this
year and took over managing the Continental European fund, the fund has
achieved top-quartile performance, returning 3.73% in the three months to 30
June while the market* fell 5.20%**.

The BlackRock Greater Europe Investment Trust invests in a focused portfolio of
large-, mid- and small-cap stocks from companies across Europe. Managed by James
Macmillan since its launch in September 2004, it has outperformed its benchmark
by more than 8% since launch, delivering 76% over the period to 30 June 2008,
against 67.7% for the FTSE All World Europe ex UK index***.

Jonathan Ruck Keene, Head of BlackRock's UK Closed-Ended Business said: "I am
delighted to welcome Vincent as manager of the BlackRock Greater Europe
Investment Trust. The board has been impressed by the mark Vincent has made on
BlackRock's Continental European unit trust, demonstrating his ability to make
money for investors in difficult market conditions. His outstanding
stock-picking skills and long experience of European equities make him the
perfect person to build on the success which the Trust has already achieved".

* The benchmark for the BlackRock Continental European Fund is the FTSE World
Europe ex-UK index
** Sources: Sector - Standard & Poor's; Index - Standard & Poor's and
Datastream, bid prices with net income reinvested
*** Source: BlackRock & Datastream, NAV prices

About BlackRock
BlackRock is one of the world's largest publicly traded investment management
firms. At June 30, 2008, BlackRock's AUM was $1.428 trillion. The firm manages
assets on behalf of institutions and individuals worldwide through a variety of
equity, fixed income, cash management and alternative investment products. In
addition, a growing number of institutional investors use BlackRock Solutions
investment system, risk management and financial advisory services.
Headquartered in New York City, as of June 30, 2008, the firm has approximately
5,700 employees in 19 countries and a major presence in key global markets,
including the U.S., Europe, Asia, Australia and the Middle East. For additional
information, please visit the Company's website at www.blackrock.com.

Past performance is not a guide to the future. The value of investments and the
income from them may go down as well as up and are not guaranteed. Changes in
rates of exchange may cause the value of investments to fluctuate. Net Asset
Value (NAV) performance is not the same as share price performance, and
shareholders may realise returns that are lower or higher than NAV performance.

Issued by BlackRock Investment Management (UK) Limited (authorised and
regulated by the Financial Services Authority). Registered office: 33 King
William Street, London, EC4R 9AS. Registered in England No. 2020394. Tel: 020
7743 3000. For your protection, telephone calls are usually recorded. BlackRock
is a trading name of BlackRock Investment Management (UK) Limited. 

The latest performance data can be found on our website: www.blackrock.co.uk

Performance                        Launch date of Trust: 20th September 2004                         
                                                                              
Annual            30-06-03     30-06-04   30-06-05     30-06-06     30-06-07  
performance       to           to         to           to           to        
to last quarter   30-06-04     30-06-05   30-06-06     30-06-07     30-06-08  
end                                                                           
BlackRock         n/a          n/a        30.57%       25.12%       -10.45%   
Greater Europe                                                                
Investment Trust                                                              

Performance                          Launch date of Fund: 16th December 1983                           
                                                                              
Annual            30-06-03     30-06-04   30-06-05     30-06-06     30-06-07  
performance       to           to         to           to           to        
to last quarter   30-06-04     30-06-05   30-06-06     30-06-07     30-06-08  
end                                                                           
BlackRock         18.1%        17.7%      28.4%        18.6%        -0.1%     
Continental                                                                   
Europe Fund                                                                   

For further information please contact:

Name: Emma Phillips
Phone: [phone]
Email: [e-mail]

Name : Steve Ainger
Phone : [phone]
Email : [e-mail]

Name: Andrea Coleman, Maitland
Phone: [phone]
Email: [e-mail]