Correction : Portfolio Update

One year, three years and since launch share price performance statistics have
been restated.


BLACKROCK GREATER EUROPE INVESTMENT TRUST plc
All information is at 29 February 2012 and unaudited.

Performance at month end with net income reinvested
                                 One     Three      One    Three   Since launch
                               Month    Months     Year    Years    (20 Sep 04)
Net asset value* (Undiluted)    5.6%      9.7%   -10.4%    74.9%         114.4%
Net asset value* (Diluted)      5.4%      9.4%    -8.5%    74.6%         114.0%
Share price^                    5.9%      9.2%    -5.4%    82.6%         112.8%
FTSE World Europe ex UK         5.7%      8.5%    -9.7%    53.9%          73.4%
Sources: BlackRock and Datastream

* Net asset value and share price performance includes the subscription share
reinvestment, assuming the subscription share entitlement per share was sold
and the proceeds reinvested on the first day of trading.

^ One year, three years and since launch share price performance statistics
have been restated.

At month end
Net asset value (capital only):        185.86p
Net asset value (including income):    185.86p
Net asset value (capital only)**:      185.40p
Net asset value (including income)**:  185.40p
Share price:                           183.50p
Discount to NAV (including income):       1.3%
Discount to NAV (including income)**:     1.0%
Subscription share price:               10.00p
Gearing:                                   Nil
Net yield:                                1.9%
Total assets (including income):       £226.3m
Ordinary shares in issue:          121,769,700***
Subscription shares in issue:       23,533,121

**  Diluted for subscription shares.
*** Excluding 2,734,952 shares held in treasury.

Benchmark
Sector Analysis  Total Assets (%)  Index (%)  Country Analysis  Total Assets (%)
Consumer Goods               23.2       17.7  Switzerland                  21.6
Industrials                  15.1       14.0  Germany                      16.7
Financials                   13.0       20.4  France                       13.2
Health Care                  12.6       10.6  Netherlands                   9.8
Basic Materials              10.5        8.4  Denmark                       5.2
Oil & Gas                    10.1       10.1  Italy                         5.2
Consumer Services             9.3        4.8  Sweden                        3.2
Technology                    3.6        3.4  Belgium                       3.1
Telecommunications            2.1        5.3  Spain                         3.0
Utilities                     0.4        5.3  Ireland                       2.8
Net current assets            0.1          -  Finland                       2.8
                                              Portugal                      2.7
                            -----      -----  Luxembourg                    2.7
                            100.0      100.0  Hungary                       2.1
                            =====      =====  Norway                        1.6
                                              Russia                        1.5
                                              Other                         2.7
                                              Net current assets            0.1
                                                                          -----
                                                                          100.0
                                                                          =====

Ten Largest Equity Investments (in alphabetical order)

Company                        Country of Risk
Ahold                          Netherlands
Allianz                        Germany
Anheuser-Busch                 Belgium
ENI                            Italy
LVMH                           France
Nestlé                         Switzerland
Novo Nordisk                   Denmark
Pernod Ricard                  France
Roche                          Switzerland
Syngenta                       Switzerland


Commenting on the markets, Vincent Devlin, representing the Investment Manager
noted:

Market
In February, European Equities were supported by a better tone to global
macroeconomic data and growing positive sentiment ahead of the ECB's second
3-year LTRO which took place at the end of the month.  Throughout the month,
Greece was very much in focus with some concerns around its second bail-out
package which reached agreement on 21 February.  Market mood was further lifted
and risk assets rallied on the news.  The oil price increased at a faster pace
as geopolitical tensions escalated in the Middle-East.  On the last day of
February, the second tranche of LTRO came in close to expectations at EUR530
billion with c.800 banks taking up the facility versus 523 banks in December.

Fund Performance & Attribution
During the month, the Company's NAV rose by 5.6% and the share price by 5.9%.
For reference, the FTSE World Europe ex UK Index was up 5.7% during the same
period.  Sector allocation was the key driver of positive returns in the
period, whilst stock selection was a drag on performance.

February saw the continued rally in risk assets as a result of which the
portfolio benefited from lower weightings to the inherently defensive telecom
and utility sectors which performed less well than the market.  Strong stock
selection within the health care sector proved successful and the insulin
provider, Novo Nordisk, was the top performer in the portfolio for the month.
Within oil & gas, strong stock selection was a key driver to performance.
Technip was a top contributor in the portfolio, as the company reported strong
results confirming their solid industry positioning and strong order book.
Dogan Sirketler was also a top contributor to performance as the market
rerated this low quality deep value name.

On a less positive note, the sharp increase in the oil price proved to weigh on
budget airline Ryanair which detracted from performance, along with the
decision to own a low weighting in BASF which benefited from the rally in
chemicals during the month.  Within the industrials sector, the less cyclical
infrastructure operator Abertis was left behind in the market rally and Vopak
was restrained after a recent period of strong performance.

During the month, the portfolio decreased its exposure to health care and,
within consumer goods, the portfolio reduced its weighting through the sale of
food and beverage names.  This was offset largely by a new position in luxury
watch producer, Swatch.

At the end of the month, the Company had higher weightings (when compared with
the FTSE World Europe ex UK Index) in basic materials, consumer goods, consumer
services, health care, industrials and oil & gas and lower weightings in
financials, technology, telecoms and utilities.

Outlook
Following February's second LTRO, we maintain that progress towards a
resolution of the European sovereign debt issues will continue to shape
investor sentiment and markets are likely to remain volatile.  Investors are,
however, pricing in a significant risk premium for the current political and
economic uncertainties and we believe our strategy of building positions in the
long term winners - companies with highly differentiated business models,
strong balance sheets and structural growth driven largely by international
demand - will deliver attractive returns over the medium term.

23 March 2012

ENDS

Latest information is available by typing www.brgeplc.co.uk on the internet,
"BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV
terminal).  Neither the contents of the Manager's website nor the contents of
any website accessible from hyperlinks on the Manager's website (or any other
website) is incorporated into, or forms part of, this announcement.