Conversion of C Shares and Conversion Ratio

BlackRock Frontiers Investment Trust plc

11 March 2016

Conversion of C Shares and Conversion Ratio

Further to the announcement of 4 March 2016 that over 85 per cent. of the
assets attributable to C Shares have been invested in a portfolio of securities
consistent with BlackRock Frontiers Investment Trust plc's (the "Company")
investment policy, the Company 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 15 March 2016.

The Conversion Ratio, which has been calculated by reference to the net assets
of the Company attributable to the Ordinary Shares and the net assets of the
Company attributable to the C Shares as at close of business on 7 March 2016,
is 0.9141.

Accordingly, a C Shareholder holding 1,000 C Shares will receive 914 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 already in issue.

Applications have been made to the UK Listing Authority for 13,711,487 Ordinary
Shares arising on Conversion to be admitted to the premium segment of the
Official List, and to the London Stock Exchange for the same number of Ordinary
Shares to be admitted to trading on the main market on 16 March 2016.

Following Conversion, the Company's issued share capital will consist of
164,333,108 Ordinary Shares of US$0.01 each, carrying one voting right each.
Therefore, the total number of voting rights for Ordinary Shareholders will be
164,333,108.

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.

Unless otherwise defined, capitalised terms in this announcement shall have the
meaning given to them in the Company's prospectus dated 5 February 2016.

Enquiries:

Sarah Beynsberger, BlackRock Investment Management (UK) Limited: 020 7743 2639
Neil Morgan, Winterflood Investment Trusts: 020 3100 0292

Press Enquires:

Lucy Horne, Lansons Communications: 020 7294 3689
Email:[e-mail]


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