Interim Management Statement

BLACKROCK GREATER EUROPE INVESTMENT TRUST PLC

Interim Management Statement - 3 months to 31 May 2012

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 March 2012 to
31 May 2012, 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    Three      From
                               Month    Months     Year    Years    Launch
Net Asset Value* (Undiluted)   -8.2%     -8.6%   -21.6%    34.3%     96.0%
Net Asset Value* (Diluted)     -8.0%     -8.4%   -19.2%    34.4%     96.0%
Share Price*                   -8.9%    -12.4%   -20.1%    40.1%     86.4%
FTSE World Europe ex UK        -7.7%    -13.1%   -24.2%     7.7%     50.8%

* Net asset value and share price performance includes the subscription share
reinvestment, assuming the subscription share entitlement per share was sold
and the proceeds reinvested on the first day of trading.

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

Ten Largest Equity Holdings at 31 May 2012(in alphabetical order)

BASF
ENI
LVMH Moet Hennessy Louis Vuitton
Novo Nordisk
Pernod Ricard
Roche
SAP
Swiss Re
Syngenta
Zurich Insurance

Financial position and performance as at 31 May 2012

Total Assets (£m) (including income)                                206.9
Short term borrowings (£m)                                           0.00
Net asset value per share (undiluted and including income)        169.85p
Net asset value per share (diluted for subscription shares                 
and including income)                                             169.85p
Share Price                                                       160.75p
Ordinary Shares in Issue*                                     121,802,604
Subscription Share Price                                            4.00p
Subscription Shares in Issue                                   23,500,217
                                                                           
Actual Gearing                                                      0.01%
Discount to NAV (including income)                                   5.4%
Discount to NAV (including income and diluted for
subscription shares)                                                 5.4%
Average Discount over the Period - Diluted                           3.2%
Average Discount over the Period - Undiluted                         3.5%

* Excluding 2,734,952 shares held in treasury

Material Events & Transactions

The Company announced its half yearly financial results for the six months
ended 29 February 2012 on 17 April 2012.

Following the seventh opportunity for shareholders to convert their
subscription shares, 32,904 subscription shares were converted into ordinary
shares on 9 May 2012.

Following the semi-annual tender offer on 31 May 2012, 2,025,685 shares were
bought back and placed in treasury on 6 June 2012.

There were no other material events or transactions, other than the purchase
and sale of securities undertaken in the normal course of business.

The Board is not aware of any significant events or transactions, except as
disclosed herein, occurring between 31 May 2012 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]

27 June 2012


ENDS


Please note 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 not 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.