Net Asset Value(s)

BLACKROCK FRONTIERS INVESTMENT TRUST PLC

The unaudited net asset values for BlackRock Frontiers Investment Trust plc at
close of business 2 March 2012 was:

133.22c Capital only USD (cents)
84.02p Capital only Sterling (pence)
133.90c Including current year income USD (cents) XD
84.45p Including current year income Sterling (pence) XD

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.