Conversion of Securities

BlackRock Greater Europe Investment Trust plc 31 March 2011 Reminder of your right to subscribe for Ordinary Shares at 183p per share This announcement is issued by way of reminder only and is not to be read as a recommendation to Subscription Shareholders to exercise their Subscription Share Rights or otherwise. You will still have further opportunities to subscribe for all or any of the Ordinary Shares to which your Subscription Shares relate on each of 31 July, 31 October, 31 January and 30 April (and if any such date is not a Business Day, the succeeding Business Day) between 31 July 2011 and 31 October 2012 (both dates inclusive) at 183p per share if you choose not to do so on this occasion. Exercise of Subscription Share Rights held in Certificated form Shareholders wishing to exercise their Subscription Share Rights, who hold their shares in Certificated form, should refer to the instructions on the reverse of their Subscription Share Certificate(s). Shareholders must lodge the relevant Subscription Share certificate(s) at the office of Computershare Priority Applications, Corporate Actions, Bristol BS99 6AJ during the period of 28 days ending at 5.00 pm on the relevant Subscription Date (3 May 2011, being the succeeding Business Day to 30 April 2011), having completed the notice of exercise of Subscription Share Rights, and a remittance for the aggregate Subscription Price for the Ordinary Shares in respect of which the Subscription Share Rights are being exercised. Shares will be allotted within ten business days of the relevant Subscription Date (by 17 May 2011). Exercise of Subscription Share Rights held through CREST Shareholders wishing to exercise their Subscription Share Rights, who hold their Shares through CREST, should send a USE (Unmatched Stock Event) instruction as set out below together with a remittance for the aggregate Subscription Price in respect of which the Subscription Share Rights are being exercised. When sending a USE instruction, Shareholders should use the following participation and member account IDs when processing their applications: CREST Participant ID = 0RA36 CREST Member Account ID = GREATER The USE instruction should be inputted to settle in accordance with the CREST timetable on the relevant Subscription Date (3 May 2011). Shares will be allotted within ten business days of the relevant Subscription Date (by 17 May 2011). All times referred to relate to the normal CREST daily timetable. It is a Subscription Shareholder's responsibility to monitor that timetable for changes until 2.00 p.m. on 3 May 2011 and to take appropriate action if any of the events are brought forward. Exercise of Subscription Share Rights held through the BlackRock Stocks & Shares ISA or Savings Plan Savings Scheme Participants wishing to exercise their Subscription Share Rights should download the Savings Plan Notice of Exercise of Subscription Share Rights Form or the Stocks & Shares ISA Notice of Exercise of Subscription Share Rights Form which will shortly be available from the BlackRock website, complete and return it to the address given at the top of the form. Forms must be received at least seven business days before the relevant Subscription Date on which the exercise of Subscription Share Rights are applicable and therefore should be received by 18 April 2011. Shares arising from the exercise of Subscription Share Rights will be issued within ten business days of the relevant Subscription Date (by 17 May 2011). Net asset value and share price information The net asset value per Ordinary Share (fully diluted, cum income) and the closing prices for the Company's Ordinary Shares and Subscription Shares, taken from the Daily Official List of the London Stock Exchange on the first dealing day in each of the six months prior to the date of this announcement and on the latest practicable date prior to the date of this announcement, were as follows: Net asset value Ordinary Share Subscription Share 2010 (pence) Price (pence) Price (pence) 1 October 190.21 182.00 16.25 1 November 194.49 XD 189.25 XD 20.75 1 December 193.12 XD 187.25 XD 23.00 2011 4 January 208.37 198.25 27.50 1 February 207.91 200.25 31.25 1 March 208.57 198.00 28.25 30 March 212.30 204.875 28.00 Taxation On exercise of the right to convert any Subscription Shares into Ordinary Shares, the Ordinary Shares issued pursuant to the Subscription Share Rights will be treated as the same asset in respect of which the Subscription Share Rights are exercised. The base cost of each such Ordinary Share will be the deemed base cost of the Subscription Share that it replaces, plus the Subscription Price. Further information relating to taxation can be found at Part V of the Combined Prospectus and Circular dated 24 June 2010. Capitalised terms have the meanings given to them in the Combined Prospectus and Circular dated 24 June 2010. If you have any enquiries regarding the procedures described above, these should be referred, in the case of CREST sponsored members, to their CREST sponsor and, in the case of other members including CREST sponsors, to the Receiving Agent, at Computershare Investor Services PLC, PO Box 859, The Pavilions, Bridgwater Road, Bristol BS99 1XZ, telephone 0870 703 6379. Mrs B Powley BlackRock Investment Management (UK) Limited Secretary ts of Subscription Shares held within the BlackRock Savings Plan and Stocks and Shares ISA are available from www.blackrock.co.uk/its. Neither the contents of the Manager's website nor the contents of any website accessible from the hyperlinks on the Manager's website (or any other website) is incorporated into, or forms part of, this announcement.
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