ESTS Blackrock Sub

The Eastern European Investment Trust plc - Senior Independent Director

11 December 2012

The Eastern European Investment Trust plc (the "Company") is pleased to announce that Mrs Rachel Beagles will succeed Edmond Warner as the Senior Independent Director (SID) of the Company with effect from Mr Warner's retirement from the Board on 31 January 2013.

Rachel joined the Board in March 2012. She worked in financial markets, primarily in equity research and sales from 1990 until 2003. She was co-head of the Pan European Banks Equity Research and Sales Team and a managing director of Corporate and Investment Banking Group Division at Deutsche Bank AG from 2000 to 2003. She is a non-executive director of Schroder UK Mid Cap Fund plc, Crown Place VCT plc, and Securities Trust of Scotland plc. She is also a former director of Newlon Housing Trust.

Enquiries

BlackRock                               

Barbara Powley - 020 7743 5610