Net Asset Value(s)

NET ASSET VALUE

BLACKROCK FRONTIERS INVESTMENT TRUST PLC

The unaudited net asset values for BlackRock Frontiers Investment Trust plc at
close of business 21 August 2012 were:

125.91c Capital only USD (cents)
79.78p Capital only Sterling (pence)
128.75c Including current year income USD (cents)
81.58p 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.