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 Ordinary 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 Ordinary Shares in issue (excluding treasury shares) at the
relevant time. The Tender Offer calculation date will be 31 May 2011, 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 2011 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.

28 March 2011

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