Interim Management Statement

BLACKROCK GREATER EUROPE INVESTMENT TRUST PLC

Interim Management Statement - 3 months to 30 November 2011

To the members of BlackRock Greater Europe Investment Trust plc

This interim management statement has been produced solely to provide
additional information to shareholders as a body to meet the relevant
requirements of the UK Listing Authority's Disclosure & Transparency Rules. It
should not be relied on by any other party for any other reason.

This interim management statement relates to the period from 1 September 2011
to 30 November 2011, and contains information that covers this period, and up
to the date of publication of this interim management statement.

The Company invests in a combination of large, mid and small capitalisation
European companies, together with some investment in the developing markets of
Europe. The portfolio is managed by Vincent Devlin & Samuel Vecht of BlackRock
Investment Management (UK) Limited.

Stock Performance

Cumulative Performance (%):
                                   One      Three        One       From
                                 Month     Months       Year     Launch
Net Asset Value (Undiluted)      -3.1%      -5.7%      -7.9%      95.6%
Net Asset Value (Diluted)        -3.1%      -5.4%      -7.3%      95.6%
Share Price                      -4.5%      -7.2%      -7.9%      88.1%
FTSE World Europe ex UK          -3.1%      -4.0%      -5.9%      59.8%

All performance figures are in sterling terms on a total return basis.


Ten Largest Equity Holdings at 30 November 2011 (in alphabetical order)

Ahold
Danone
DNB
Fresenius
LVMH
Nestlé
Novo Nordisk
Pernod Ricard
Roche
Syngenta


Financial position and performance as at 30 November 2011

Gross Assets (£m) (including income)        166.2
Short term borrowings (£m)                    2.8

Net asset value per share (undiluted)     169.50p
Net asset value per share                        
(diluted for subscription shares)         169.50p
Ordinary Share Price                      168.00p
Ordinary Shares in Issue*              96,368,264
Subscription Share Price                    8.00p
Subscription Shares in Issue           18,342,725
Actual Gearing (including income)            1.7%
Discount to NAV (including income)           0.9%
Discount to NAV (including income                
and diluted for subscription shares)         0.9%
Average Discount over the Period                 
(including income)                           2.2%
Average Discount over the Period                 
(including income and diluted for                
subscription shares)                         2.2%

* Excluding 1,239,788 shares held in treasury


Material Events & Transactions

Following the fifth opportunity for shareholders to convert their subscription
shares on 31 October 2011, 8,950 subscription shares were converted into
ordinary shares on 7 November 2011.

Following the semi-annual tender offer on 2 December 2011, 1,495,164 shares
were bought back and placed in treasury.

On 15 December 2011 the Company announced that it has reached agreement in
principle with Charter European Trust plc ("Charter") in respect of a proposed
scheme of reconstruction and winding-up of Charter pursuant to which Charter's
business and assets will be transferred to the Company. It is expected that
this scheme, which is subject to approval by both the shareholders of the
Company and of Charter, as well as subject to clearance from HMRC, will be
implemented in February 2012. The costs of the merger will be borne by
Charter's shareholders and there will be no dilution from costs to the assets
of the Company. For information purposes, Charter had assets of approximately 
£44m as at 13 December 2011. Further details of the scheme can be found in the
Company's announcement of 15 December 2011.

Annual Report

The Company announced its annual results for the year ended 31 August 2011 on
12 October 2011.

Dividend

A final dividend in respect of the year ended 31 August 2011 of 3.50p per
ordinary share was declared by the directors and was approved by shareholders
at the Annual General Meeting held on 30 November 2011. The directors also
declared a special dividend of 2.50p per ordinary share. Both dividends were
paid on 8 December 2011 to shareholders on the register on 28 October 2011 (ex
dividend date 26 October 2011).

The Board is not aware of any significant events or transactions, except as
disclosed herein, occurring between 30 November 2011 and the date of
publication of this interim management statement which would have a material
impact on the financial position of the Company.

Contact details:
Caroline Driscoll
Secretary
Tel: [phone]

9 January 2012


ENDS

Please note that more detailed performance information is available on the
Investment Manager's website: www.blackrock.co.uk/brge. Neither the contents of
the Manager's website nor the contents of any website accessible from
hyperlinks on the Manager's website (or any other website) is incorporated
into, or forms part of, this announcement.