Conversion of Securities

BlackRock Greater Europe Investment Trust plc

Conversion of Subscription Shares

Following the exercise of Subscription Share Rights by 92 holders of
Subscription Shares, the Board of BlackRock Greater Europe Investment Trust plc
announces that it has issued 227,425 Ordinary Shares today pursuant to its
block listing dated 12 May 2011.

Following this conversion of Subscription Share Rights, there are 100,333,917
Ordinary Shares (including 2,898,166 Ordinary Shares held in treasury) and
18,515,026 Subscription Shares in issue.

12 May 2011

For further information, please contact:

Caroline Driscoll
BlackRock Investment Management (UK) Limited - Company Secretary
Telephone [phone]