Net Asset Value(s)

NET ASSET VALUE

BLACKROCK FRONTIERS INVESTMENT TRUST PLC

The unaudited net asset values for the ordinary shares of BlackRock Frontiers
Investment Trust plc at close of business on 28 February 2014 were:

189.15c Capital only USD (cents)
112.87p Capital only Sterling (pence)
189.75c Including current year income USD (cents)
113.22p 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. Following conversion of the Company's C shares into Ordinary Shares on 25
September 2013, the unaudited NAV above has been calculated on the basis of
150,621,621 Ordinary Shares in issue.