Statement re Conversion of C Shares and Convers...

BlackRock Frontiers Investment Trust plc

Conversion of C Shares and Conversion Ratio

Further to the announcement of 17 September 2013 that over 85 per cent. of the
assets attributable to C Shareholders have been invested in a portfolio of
securities consistent with the Company's investment policy, the Board of
Directors announces that, in accordance with the terms and conditions of the
Issue, the Conversion Date, on which the C Shares will convert into Ordinary
Shares, has been determined by the Board to be 25 September 2013.

The Conversion Ratio, which has been calculated by reference to the total net
assets of the Company and the net assets of the Company attributable to 
C Shareholders as at close of business on 18 September 2013, is 0.8787.  

Accordingly, a C Shareholder holding 1,000 C Shares will receive 878 new
Ordinary Shares on Conversion.  

The new Ordinary Shares arising on Conversion will rank pari passu with, and
will have the same rights as, the Ordinary Shares of the Company already in
issue.

Application has been made to the UK Listing Authority for the 55,855,354
Ordinary Shares arising on Conversion to be admitted to the Official List, and
to the London Stock Exchange for the same number of Ordinary Shares to be
admitted to trading, on 25 September 2013. The C Shares will be permanently
removed from trading on the London Stock Exchange with effect from 8.00 a.m. on
23 October 2013.

Following Conversion, the Company's issued share capital will consist of
150,621,621 Ordinary Shares of US$0.01 each, carrying one voting right each.
Therefore, the total number of voting rights for Ordinary Shareholders will be
150,621,621.

The above figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change of interest in, the Company under the FCA's Disclosure
and Transparency Rules.

24 September 2013

Enquiries:

Simon White, BlackRock Investment Management (UK) Limited: 020 7743 5284

Alex Blake, Winterflood Investment Trusts: 020 3100 0297