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) as at the
close of business on 16 November 2012 (the record date for participation in the
tender offer). The Tender Offer calculation date will be 30 November 2012, 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 at the end of October
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.

Shareholders should place no expectation or reliance on the Board exercising
its discretion to operate a periodic tender offer on any one occasion in the
future.

18 September 2012

Enquiries:

BlackRock Investment Management (UK) Limited - 020 7743 3000
Simon White
Caroline Driscoll

Cenkos Securities plc - 020 7397 8900
Will Rogers
Sapna Shah