Statement re Bonus Issue of Subscription Shares

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES
OF AMERICA, CANADA, AUSTRALIA OR JAPAN                      

BlackRock Greater Europe Investment Trust plc

Bonus Issue of Subscription Shares - Subscription Share Price

Further to the Company's announcement on 29 January 2013, 23,254,813
Subscription Shares shall be allotted, subject to shareholder approval at a
General Meeting on 18 April 2013 and listing on 19 April 2013, to Ordinary
Shareholders on the register at the close of business on 16 April 2013, by way
of a bonus issue on the basis of one Subscription Share for every five Ordinary
Shares held at that date.

Each Subscription Share will confer the right, but not the obligation, to
subscribe for one Ordinary Share quarterly on the last Business Day of January,
April, July and October between and including the last Business Day in July
2013 and the last Business Day in April 2016, after which the Subscription
Share Rights will lapse.

The Subscription Price is equal to the unaudited undiluted published cum income
Net Asset Value per Ordinary Share as at the close of business on 16 April 2013
of 225.32p, plus a percentage premium on such amount rounded up to the nearest
whole penny, as follows:

(i) if the Subscription Share Rights are exercised to have effect on any
Subscription Date between and including the last Business Day in July 2013 and
the last Business Day in April 2014, a 3 per cent. premium to such Net Asset
Value per Ordinary Share giving a Subscription Price of 233p; and

(ii) if the Subscription Share Rights are exercised to have effect on any
Subscription Date between and including the last Business Day in July 2014 and
the last Business Day in April 2016, a 10 per cent. premium to such Net Asset
Value per Ordinary Share giving a Subscription Price of 248p.

Terms used in this announcement shall, unless the context otherwise requires,
bear the meaning given to them in the Prospectus dated 25 March 2013.

Enquiries

Simon White - 020 7743 5284
BlackRock Investment Management (UK) Limited

Will Rogers - 020 7397 1920
Sapna Shah - 020 7397 1922
Cenkos Securities plc

17 April 2013