Acquisition by Issuer of Shares

BlackRock Greater Europe Investment Trust plc - Acquisition by Issuer of Shares 
                                                                               
On 8 September 2008, the Company offered to repurchase up to 20 per cent. of   
its issued ordinary shares excluding treasury shares (112,388,958).            
                                                                               
The Tender Offer was undersubscribed and 5,568,268 shares (4.95% of the issued
ordinary shares excluding treasury shares) were tendered. The Tender was       
satisfied in full and on 3 December 2008, 5,568,268 shares were purchased by   
the Company under the Tender Offer. All of the shares purchased are held in    
Treasury.                                                                      
                                                                               
The Company announces, pursuant to DTR 5.5.1 of the Disclosure and Transparency
Rules, that as a result of the Tender Offer the purchase by the Company of the 
5,568,268 shares fell below the threshold of 5% of the Company's total number  
of voting rights.                                                              
                                                                               
As a result of the Tender Offer there are now 106,820,690 shares in issue      
excluding treasury shares.                                                     
                                                                               
4 December 2008                                                                
Caroline Driscoll - Company Secretary                                          
Tel: [phone]