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 27 January 2016 were:

142.86c  Capital only USD (cents)
100.22p  Capital only Sterling (pence)
147.29c  Including current year income USD (cents)
103.32p  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 unaudited NAV above has been calculated on the basis of
150,621,621 Ordinary Shares in issue.