Net Asset Value(s)

NET ASSET VALUE

BlackRock Frontiers Investment Trust plc

Capital only USD (cents) 151.47c
Capital only Sterling (pence) 97.93p
Including current year income USD (cents) 151.47c
Including current year income Sterling (pence) 97.93p

Notes:

1. Investments have been valued on a bid price basis.

2. Revenue items included in net asset value, with dividends payable deducted
on the ex-dividend date.

3. The number of shares in issue is 94,766,267 following their issue on
17 December 2010.