Tender Offer

Merrill Lynch Greater Europe IT PLC
16 August 2005

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 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 will be calculated at 30
November 2005 and will be for 98 per cent. of the net asset value per Share.
The Board intends to post a circular to shareholders in October 2005 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.

16 August 2005

Enquiries:

Jonathan Ruck Keene - Merrill Lynch Investment Managers - Telephone Number:  020 7743 2178
James Macmillan - Merrill Lynch Investment Managers - Telephone Number:  020 7743 2289
William Clutterbuck - The Maitland Consultancy - Telephone Number:  020 7379 5151


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