Tender Offer

NOT FOR RELEASE INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN.

BLACKROCK GREATER EUROPE INVESTMENT TRUST plc (the "Company")

Tender Offer to purchase up to 20 per cent. of the Shares in issue of the
Company

The Board has decided to exercise its discretion to implement a tender offer
(the "Tender Offer"). The Tender Offer will enable Shareholders to tender all
or part of their Shares for cash, subject to a maximum of 20 per cent. in
aggregate of the Shares in issue at the relevant time. The Tender Offer
calculation date will be 1 June 2009, being the succeeding business day to 31
May 2009, and the tender price will be 98 per cent. of the net asset value per
Share. The Board intends to post a circular to shareholders in April 2009
containing details of the Tender Offer and the procedure for tendering Shares.

The detailed terms and conditions of the Tender Offer are contained in the
prospectus published by the Company on 21 June 2004.

9 March 2009

Enquiries:

Jonathan Ruck Keene - BlackRock Investment Management (UK) Limited - Telephone
Number: 020 7743 2178

Vincent Devlin - BlackRock Investment Management (UK) Limited - Telephone
Number: 0131 472 7376

William Clutterbuck - The Maitland Consultancy - Telephone Number: 020 7379
5151