Result of Tender offer

Not for release, publication or distribution in or into the United States,     
Canada, Australia or Japan                                                     
                                                                               
01 June 2012                                                                   
                                                                               
                                                                               
                                                                               
                 BlackRock Greater Europe Investment Trust plc                 
                          Results of the Tender Offer                          
                                                                               
Background                                                                     
                                                                               
The Company offered to repurchase up to 20 per cent of its issued Ordinary     
Shares excluding treasury shares (121,802,604).                                
                                                                               
The Tender Offer was undersubscribed and 2,025,685 Ordinary Shares (1.66% of   
the issued Ordinary Shares excluding treasury shares) were tendered. The Tender
will be satisfied in full. All tendered Ordinary Shares will be held in        
Treasury.                                                                      
                                                                               
Following implementation of the Tender Offer the Company will have 124,537,556 
shares in issue which will include 4,760,637 Ordinary Shares which are held in 
Treasury.                                                                      
                                                                               
Following the Tender Offer the number of Ordinary Shares that the Company has  
in issue, less the total number of Ordinary Shares held by the Company in      
Treasury, is 119,776,919.                                                      
                                                                               
Tender Price                                                                   
                                                                               
The Tender Price calculated as at close of business on 31 May 2012 (the        
"Calculation Date") was 166.45 pence per Ordinary Share.                       
                                                                               
Payments to Shareholders by cheque, in the case of certificated holders, will  
be made in pounds sterling and are expected to be paid on or as soon as        
practicable after 7 June 2012.                                                 
                                                                               
Payments through CREST, in the case of uncertificated holders, will be made in 
pounds sterling and are expected to be paid on or as soon as practicable after 
7 June 2012.                                                                   
                                                                               
Balancing share certificates will be despatched and CREST accounts will be     
settled on or as soon as practicable after 7 June 2012.                        
                                                                               
Definitions                                                                    
                                                                               
Terms defined in the Circular have the same meaning when used herein unless the
context otherwise requires.                                                    
                                                                               
Enquiries                                                                      

BlackRock Investment Management (UK) Limited - 020 7743 3000                   
Simon White                                                                    
Caroline Driscoll                                                              
                                                                               
Canaccord Genuity Limited - 020 7523 8000                                                     
David Yovichic

Canaccord Genuity Limited is acting for the Company in connection with the     
Tender Offer and no one else and will not be responsible to anyone other than  
the Company for providing the protections offered to clients of Canaccord      
Genuity Limited nor for providing advice in relation to the Tender      
Offer.