THE EASTERN EUROPEAN TRUST PLC: Interim Management Statement

THE EASTERN EUROPEAN TRUST PLC 
Interim Management Statement - 3 months to 31 October 2012 
To the members of The Eastern European Trust PLC 
This interim management statement has been produced solely to provide
additional information to shareholders as a body to meet the relevant
requirements of the UK Listing Authority's Disclosure & Transparency Rules. It
should not be relied on by any other party for any other reason. 
This interim management statement relates to the period from 1 August 2012 to
31 October 2012, and contains information that covers this period, and up to
the date of publication of this interim management statement. Please note more
detailed performance information is available on the Manager's website
http://www.blackrock.co.uk/Individualinvestors/FundCentre/InvestmentTrustPricing
/index.htm 
The Company's objective is to achieve long term capital growth by investing in
companies that do business primarily in Eastern Europe, Russia, other
Commonwealth of Independent States countries and Turkey. 
Stock Performance 


                               One     Three       One     Three     *Since
                             Month    Months      Year     Years   30.04.09


                                                                       
Net Asset Value              -0.1%      4.0%      6.0%     20.3%      72.7%
(undiluted)                                                                
Share Price                  -1.2%      5.6%      4.2%     19.7%      74.6%
MSCI EM Europe 10/40          0.3%      4.6%      4.8%     17.4%      64.7%
(TR)                                                                        
* BlackRock took over the investment management of the Company with effect from
1 May 2009. 
All performance figures are in sterling terms on a total return basis. Net
asset value and share price performance include the reinvestment of the
subscription shares, assuming that the 2010, 2011 and 2012 subscription shares
were sold and the proceeds reinvested on the first day of trading. 
Ten Largest Equity Holdings at 31 October 2012 
Company                    Country of risk    Total market    
                                              value        
                                                %           
Sberbank                   Russia                  9.2       
Gazprom                    Russia                  9.0           
Turkiye Garanti Bankasi    Turkey                  5.6          
LUKoil                     Russia                  5.3       
OTP Bank                   Hungary                 4.4       
Surgutneftegaz             Russia                  3.3       
Komercni                   Czech Republic          3.0       
Mail Ru                    Russia                  2.7       
Gedeon Richter             Hungary                 2.6       
Turkcell Iletism Hizmet    Turkey                  2.6        
Financial position and performance as at 31 October 2012 
Gross Assets (including current year revenue)         £124.9m
Net asset value per share-capital only                277.56p   
(undiluted)                                                  
Net asset value per share-cum income                  282.90p   
(undiluted) (1)                                              
Share Price                                           253.50p
2012 Subscription share price                           6.00p
Ordinary Shares in Issue (2)                       42,638,291
Gross market exposure (3)                              109.7%
Discount to NAV (4)                                     10.4% 
 1. Includes year to date net revenue equal to 5.34p per share. 


     2. Excluding 6,000,000 shares held in treasury.
     3. Long positions plus short positions as a percentage of net assets.
     4. Discount (share price to cum income NAV).
    Material Events & Transactions

Half Yearly Financial Report

The Company announced its half yearly financial results for the six months
ended 31 July 2012 on 21 September 2012.

2012 Subscription Shares

The first opportunity for shareholders to convert their 2012 subscription
shares took place at the beginning of October 2012, when 8,472 subscription
shares were converted into ordinary shares on 8 October 2012.

The Company announced on 30 November that the second opportunity for
shareholders to convert their 2012 subscription shares would take place on 2
January 2013.

Periodic Tender Offers

The Company announced on 7 November 2012 that it would be exercising its
discretion and offering a periodic tender for up to 7.5% of the Company's
shares in issue (excluding treasury shares) at a discount of 1% to Formula
Asset Value (NAV less the costs of the tender offer). The record date for
participation in the tender offer will be the close of business on 21 December
2012. The tender offer calculation date will be 21 January 2013 and a circular
setting out the full terms and conditions of the tender offer will be sent to
shareholders not less than 30 clear calendar days before the calculation date.

Share buybacks

The Company announced that the following shares have been repurchased for
cancellation:-

Date          Number of shares purchased for  
                       cancellation           


                                          
28.09.12                  45,000                  
05.10.12                  30,000                 
12.10.12                  28,000              
08.11.12                  80,000              
16.11.12                  50,000              
23.11.12                  66,700               
Net Asset Value 
The Company announces its NAV on a daily basis, which can be accessed via http:
//www.estplc.co.uk, under the "News" tab. 
The unaudited net asset value for The Eastern European Trust PLC at close of
business on 4 December 2012 was: 
279.4p per share (pence sterling) - Capital only 
284.6p per share (pence sterling) - Cum income 
There were no other material events or transactions during the three months to
31 October 2012 nor was the Company involved in any material transactions
during the period other than the purchase and sale of securities undertaken in
the normal course of its business. 
The Board is not aware of any other material events or transactions occurring
between 31 October 2012 and the date of publication of this interim management
statement which would have a material impact on the financial position of the
Company. Latest information is available by typing, http://www.blackrock.co.uk/
Individualinvestors/FundCentre/InvestmentTrustPricing/index.htm on the
internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV
terminal). 
Contact details: 
A B Powley
BlackRock Investment Management (UK) Limited, Company Secretary
Tel: 020 7743 5610 
5 December 2012 
END 
-0- Dec/05/2012 16:36 GMT
 
 
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