Statement re Subscription Shares

BlackRock Greater Europe Investment Trust plc

Subscription Shares

Further to the announcement made on 1 November 2012, the Board of BlackRock
Greater Europe Investment Trust plc (the 'Company') announces that the trustee
appointed under the terms of the Subscription Shares has been unable to
exercise the outstanding Subscription Share Rights. The Subscription Share
Rights in respect of the remaining 22,330,058 Subscription Shares therefore
lapsed on 14 November 2012.

As announced on 30 October 2012, the Company will be seeking Ordinary
Shareholder approval and Subscription Shareholder approval to redesignate the
Subscription Shares as Deferred Shares at General Meetings to be held on 
29 November 2012. The listing of the Subscription Shares will remain
suspended until the resolutions are passed.

15 November 2012

For further information, please contact:
C Driscoll
BlackRock Investment Management (UK) Limited - Company Secretary
Telephone [phone]