Net Asset Value(s)

BLACKROCK FRONTIERS INVESTMENT TRUST PLC

The unaudited net asset values for BlackRock Frontiers Investment Trust plc at
close of business 20 March 2012 was:

133.36c Capital only USD (cents)
84.11p Capital only Sterling (pence)
134.98c Including current year income USD (cents)
85.13p Including current year income Sterling (pence)

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.