ESTS Blackrock Sub

The Eastern European Trust PLC

30 November 2012

Reminder of your right to subscribe for Ordinary Shares at 273p per share

This announcementis issued by way of reminder only and is not to be read as a recommendation to Subscription Shareholders to exercise their Subscription Share Rights or otherwise. You will still have furtheropportunitiesto subscribe for all or any of the Ordinary Shares to which your Subscription Shares relateo n1 April 2013and1 July 2013 at 273p per share if you choose not to do so on this occasion.

Exercise of Subscription Share Rights held in Certificated form

Shareholders wishing to exercise their Subscription Share Rights, who hold their shares in Certificated form, should refer to the instructions on the reverse of their Subscription Share Certificate(s). Shareholders must lodge the relevant Subscription Share certificate(s) at the office of Computershare Priority Applications, Corporate Actions, Bristol BS99 6AJ during the period of 28 days ending at 5.00 pm on the relevant Subscription Date (2 January 2013), having completed the notice of exercise of Subscription Share Rights, and a remittance for the aggregate Subscription Price for the Ordinary Shares in respect of which the Subscription Share Rights are being exercised. Shares will be allotted within ten business days of the relevant Subscription Date (by 16 January 2013.

Exercise of Subscription Share Rights held through CREST

Shareholders wishing to exercise their Subscription Share Rights, who hold their Shares through CREST, should send a USE (Unmatched Stock Event) instruction as set out below together with a remittance for the aggregate Subscription Price in respect of which the Subscription Share Rights are being exercised. When sending a USE instruction Shareholders should use the following participation and member account IDs when processing their applications:

CREST Participant ID = 0RA27

CREST Member Account ID = EASTERN

The USE (instruction should be inputted to settle by 2.00 p.m. on the relevant Subscription Date (2 January 2013). Shares will be allotted within ten business days of the relevant Subscription Date (by 16 January 2013).

All times referred to relate to the normal CREST daily timetable. It is a Subscription Shareholder's responsibility to monitor that timetable for changes until 2.00 p.m. on 2 January 2013 and to take appropriate action if any of the events are brought forward.

Exercise of Subscription Share Rights held through the BlackRock Stocks & Shares ISA or Share Plan

Savings Scheme Participants wishing to exercise their Subscription Share Rights should download the Savings Plan Notice of Exercise of Subscription Share Rights Form or the Stocks & Shares ISA Notice of Exercise of Subscription Share Rights Form which will shortly be available from www.blackrock.co.uk/its, complete and return it to the address given at the top of the form. Forms must be received at least seven business days before the relevant Subscription Date on which the exercise of Subscription Share Rights are applicable and therefore should be received by 21 September 2012. Shares arising from the exercise of Subscription Share Rights will be issued within ten business days of the relevant Subscription Date (by 16 January 2013).

Net asset value and share price information

* The net asset value per Ordinary Share (fully diluted) and the closing

prices for the Company's Ordinary Shares and Subscription Shares, taken

from the Daily Official List of the London Stock Exchange on the first

dealing day in each of the six months (or since issue of the Subscription

Shares if this is less than six months) prior to the date of this

announcement and on the latest practicable date prior to the date of this

announcement, were as follows:

   
                  Ordinary Share      OrdinaryShare       2012 Subscription  
                                                          SharePrice(pence)  
           Net asset value(pence)      Price(pence)                          
                                                                      
                                                                             
                                                                             
1 August 2012          273.51            242.125                6.50           
3 September 2012       277.27             242.50                7.50           
1 October 2012         285.93             258.50                7.00             
1 November 2012        281.61             252.25                6.00         
29 November 2012       278.06             239.50                3.00         

Taxation

On exercise of the right to convert any Subscription Shares into Ordinary Shares, the Ordinary Shares issued pursuant to the Subscription Share Rights will be treated as the same asset in respect of which the Subscription Share Rights are exercised. The base cost of each such Ordinary Share will be the deemed base cost of the Subscription Share that it replaces, plus the Subscription Price. Further information relating to taxation can be found at Part V of the prospectus dated 24 May 2012.

Capitalised terms have the meanings given to them in the prospectus dated 24 May 2012.

If you have any enquiries regarding the procedures described above, these should be referred, in the case of CREST sponsored members, to their CREST sponsor and, in the case of other members including CREST sponsors, to the Receiving Agent, at Computershare Investor Services PLC, PO Box 859, The Pavilions, Bridgwater Road, Bristol BS99 1XZ, telephone 0870 7036379.

Mrs A B Powley
BlackRock Investment Management (UK) Limited
Secretary