Tender Offer

Merrill Lynch Greater Europe IT PLC
01 June 2005

Not for release, publication or distribution in or into the United States,
Canada, Australia or Japan

01 June 2005

               Merrill Lynch Greater Europe Investment Trust plc

                          Results of the Tender Offer

Background

The Company offered to repurchase up to 20 per cent of its issued ordinary
shares (164,841,285).

The Tender Offer was under subscribed and 24,426,938 shares (14.82% of the
issued shares) were tendered.  The tender will be satisfied in full.

All Shares purchased under the Tender Offer will be cancelled.



Tender Price

The Tender Price calculated as at close of business on 31 May 2005 (the '
Calculation Date') was 113.29 pence per share.

Payments to Shareholders by cheque, in the case of certificated holders, will be
made in pounds sterling and are expected to be paid on or as soon as practicable
after 6 June 2005.

Payments through CREST, in the case of uncertificated holders, will be made in
pounds sterling and are expected to be paid on or as soon as practicable after 6
June 2005.

Balancing share certificates will be despatched and CREST accounts will be
settled on or as soon as practicable after 6 June 2005.



Definitions

Terms defined in the Circular have the same meaning when used herein unless the
context otherwise requires.



Enquiries



Merrill Lynch Investment Managers                        020 7743 3000
Jonathan Ruck Keene
Caroline Driscoll



UBS Investment Bank
Will Rogers                                              020 7568 2939



UBS Limited is acting for the Company in connection with the Tender Offer and no
one else and will not be responsible to anyone other than the Company for
providing the protections offered to clients of UBS Limited nor for providing
advice in relation to the Tender Offer.


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