Portfolio Update

BLACKROCK GREATER EUROPE INVESTMENT TRUST plc
All information is at 28 February 2014 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)    5.9%     2.7%   13.6%   28.8%         204.3%
Net asset value (diluted)      5.0%     2.3%   11.9%   30.0%         199.9%
Share price                    2.3%     3.3%   13.2%   33.4%         196.0%
FTSE World Europe ex UK        5.4%     2.8%   15.4%   23.6%         137.3%
Sources: BlackRock and Datastream

At month end
Net asset value (capital only):        255.70p 
Net asset value (including income):    255.80p
Net asset value (capital only)*:       251.68p
Net asset value (including income)*:   251.75p
Share price:                           247.50p
Discount to NAV (including income):       3.2%
Discount to NAV (including income)*:      1.7%
Subscription share price                27.50p
Gearing:                                  1.9%
Net yield**:                              1.8%
Total assets (including income):       £276.2m
Ordinary shares in issue:          107,475,830***
Subscription shares in issue:       21,900,076

*  Diluted for subscription shares and treasury shares.
** Based on an ordinary dividend of 4.5p per share (excluding a special
dividend of 1.0p) for the year ended 31 August 2013.
*** Excluding 5,529,676 shares held in treasury.

Benchmark
Sector Analysis  Total Assets (%)  Index (%)  Country Analysis  Total Assets (%)

Financials                   30.0       23.5  Switzerland                   18.9
Health Care                  16.3       12.1  France                        17.8
Industrials                  14.8       14.5  Germany                       17.1
Consumer Goods               14.0       17.4  Netherlands                   13.4
Consumer Services            12.5        5.3  Denmark                        7.0
Technology                    3.9        3.8  Sweden                         6.1
Basic Materials               3.8        8.5  Belgium                        4.2
Utilities                     2.1        4.0  Russia                         2.9
Oil & Gas                     1.3        6.7  Turkey                         2.7
Telecommunications              -        4.2  Portugal                       2.6
Net current assets            1.3          -  Spain                          2.4
                            -----      -----  Ireland                        2.3
                            100.0      100.0  Hungary                        1.0
                            =====      =====  Italy                          0.3
                                              Net current assets             1.3
                                                                           -----
                                                                           100.0
                                                                           =====
 
Ten Largest Equity Investments (in alphabetical order)

Company
Adecco                             Switzerland
Bayer                              Germany
Continental                        Germany
Deutsche Post                      Germany
ING                                Netherlands
Novo Nordisk                       Denmark
Publicis                           France
Roche                              Switzerland
Société Générale                   France
Zurich Insurance                   Switzerland

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

During the month, the Company's NAV gained 5.9% and the share price increased
by 2.3%. For reference, the FTSE World Europe ex UK Index rose 5.4% during the
same period.

After a negative start to 2014, February saw a strong rally in European
Equities, outperforming the rest of the world. This strong positive return came
even as the European reporting season was generally uninspiring in terms of
results, and despite generally conservative statements on 2014 outlooks. The
Euro continued to appreciate. On a sector basis, health care led the way,
followed by oil & gas and small and midcaps outperformed large caps during
the month. February also saw the resurgence of some geopolitical risk following
events in the Ukraine.

Stock selection drove returns during the month, while sector allocation
detracted from returns. From a sector perspective, the Company's underweight
position to telecoms and an overweight position in health care benefited
returns, although these were offset from an underweight position in oil & gas
and an overweight position in consumer services.

Stock selection within the health care and consumer goods sectors were the
Company's largest contributors over the month. Within health care, a position
in Danish diabetes treatment company, Novo Nordisk, was the Company's top
performing stock. The company reported solid earnings and benefited from the
news that a competitor's new rival drug has not demonstrated any improved
efficiencies over its own product offering. A position in Roche also performed
well as the product pipeline continues to build.

Within the consumer goods sector, positions in French car manufacturer Renault
and German tire and auto part manufacturer Continental performed strongly, as
the European autos market strengthened and the demand for cars improved
globally.

On the negative side, stocks exposed to Emerging Europe suffered as the market
continued to be dragged down. This was particularly noticeable in the Russian
market as the situation in the Ukraine intensified. This led to Sberbank of
Russia and Gazprom being the Company's two worst performing stocks. Other
notable detractors were Hungarian OTP Bank, Turkish Halk Banka and Portuguese
Jeronimo Martins, where the significant majority of its revenues are generated
in Poland.

At the end of the month, the Company was positioned with higher weightings in
consumer services, financials and health care and with lower weightings in
basic materials, oil & gas, industrials, utilities, consumer goods, technology
and telecoms.

Outlook
The general outlook for Europe continues to improve, with growing evidence of a
European economic recovery. Economic conditions are showing signs of
improvement, public policy and political uncertainties have eased and the
Eurozone has passed the peak of austerity measures. The fly in the ointment
remains the ability of corporates to improve profits. However, lower labour and
input costs combined with economic momentum, should provide the impetus much
needed following a prolonged period of falling profits. We expect equity
markets to provide a return of 10-12% this year given the potential for
positive earnings surprise, valuation and dividend attractions and investors
returning to European equities. However, it is worth reminding ourselves that
there is risk surrounding any scenario. The recovery in Europe remains fragile
and while much progress has been made in unifying the banking system, banking
stress tests and lack of credit may hinder economic recovery. European
elections could also bring some increased volatility but are unlikely to have a
significant impact on future Eurozone policies.

13 March 2014

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.