Statement re Suspension of Subscription Shares

BlackRock Greater Europe Investment Trust plc

Subscription Shares - Suspension of Listing

On 30 July 2010 the Company issued Subscription Shares as a bonus issue to
Ordinary Shareholders on the basis of one Subscription Share for every five
Ordinary Shares held. In addition, following the acquisition of the assets of
Charter European Trust plc, qualifying shareholders were issued Subscription
Shares on 27 February 2012 on the same basis. Yesterday was the final exercise
date for the Subscription Share Rights attached to the Subscription Shares.

The Company has requested that the UK Listing Authority suspend the listing of
the Subscription Shares from 7.30am today, following the passing of the final
exercise date. In the event that a final subscription trustee appointed in
accordance with the Company's Articles of Association does not exercise any
outstanding Subscription Share Rights, the Subscription Share Rights will lapse
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 following the conclusion or adjournment of the 2012 Annual General
Meeting. If such redesignation is approved by Ordinary Shareholders and
Subscription Shareholders the listing of the redesignated Subscription Shares
as Deferred Shares will be cancelled on 3 December 2012.

1 November 2012

For further information, please contact:

Caroline Driscoll
BlackRock Investment Management (UK) Limited - Company Secretary
Telephone [phone]