Interim Management Statement

BLACKROCK GREATER EUROPE INVESTMENT TRUST PLC

Interim Management Statement - 3 months to 31 May 2008

To the members of BlackRock Greater Europe Investment Trust plc

This interim management statement has been produced solely to provide
additional information to shareholders as a body to meet the relevant
requirements of the UK Listing Authority's Disclosure & Transparency Rules. It
should not be relied on by any other party for any other reason.

This interim management statement relates to the period from 1 March 2008 to 31
May 2008, and contains information that covers this period, and up to the date
of publication of this interim management statement. Please note more detailed
performance information, in particular the March, April and May 2008 month end
announcements are available on the Manager's website-www.blackrock.co.uk/its.

The Company invests in a combination of large, mid and small capitalisation
European companies, together with some investment in the developing markets of
Europe. The Company is managed by James Macmillan & Samuel Vecht of BlackRock.


Stock Performance

Cumulative Performance (%):
                                   One      Three        One       From
                                 Month     Months       Year     Launch
                                                                       
Net Asset Value                   3.5%       6.4%      -4.0%      90.1%
Share Price                       1.9%       2.5%      -4.6%      78.4%
FTSE World Europe ex UK           1.5%       7.8%      -0.1%      87.4%

All performance figures are in sterling terms on a total return basis.


Ten Largest Equity Holdings at 31 May 2008 (in alphabetical order)

Akzo Nobel
Allianz
ArcelorMittal
Bayer
BlackRock Eurasian Frontiers Hedge Fund
Nestle
Novartis
Roche
StatoilHydro
Suez


Financial position and performance as at 31 May 2008

Gross Assets (£m)                           212.9
Short term borrowings (£m)                    2.0
                                                 
Net asset value                           183.27p    
Share Price                               171.75p
Ordinary Shares in Issue*             115,117,791
                                                 
Actual Gearing                               0.9%
Discount to NAV                              6.3%
Average Discount over the Period             4.6%

* Excluding 4,726,178 shares held in treasury


Material Events

The Company changed its name from Merrill Lynch Greater Europe Investment Trust
plc to BlackRock Greater Europe Investment Trust plc with effect from 25 April
2008. This was part of a global rebrand following the merger of Merrill Lynch
Investment Managers with BlackRock in September 2006.


Material Transactions

Following the semi-annual tender offer on 2 June 2008, being the succeeding
business day to 31 May 2008, 2,728,833 shares were bought back and placed in
treasury on 5 June 2008.

The Board is not aware of any significant events or transactions, except as
disclosed herein, occurring between 31 May 2008 and the date of publication of
this interim management statement which would have a material impact on the
financial position of the Company. Latest information is available by typing, 
www.blackrock.co.uk/its on the internet, "BLRKINDEX" on Reuters, "BLRK" on
Bloomberg or "8800" on Topic 3 (ICV terminal).


Contact details:
Caroline Driscoll
Secretary
Tel: [phone]

14 July 2008