Tender Offer

NOT FOR RELEASE INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN OR
THE REPUBLIC OF IRELAND.

MERRILL LYNCH GREATER EUROPE INVESTMENT TRUST plc (the "Company")

Tender Offer to purchase up to 20 per cent. of the 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 Shares in issue at the relevant time. The Tender Offer
calculation date will be 2 June 2008, being the succeeding business day to 31
May 2008, 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 2008
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.

11 March 2008

Enquiries:

Jonathan Ruck Keene - BlackRock Investment Management (UK) Limited - Telephone
Number: 020 7743 2178


James Macmillan - BlackRock Investment Management (UK) Limited - Telephone
Number: 020 7743 2289


William Clutterbuck - The Maitland Consultancy - Telephone Number: 020 7379
5151