Issue of Equity

BlackRock Frontiers Investment Trust plc

17 December 2010

Issue of equity

Following the closure of the Placing, the BlackRock Frontiers Investment Trust
plc (the `Company') is pleased to announce that 94,766,267 Ordinary Shares have
today been admitted to the Official List and to trading on the London Stock
Exchange's main market for listed securities. The proceeds of the issue net of
issue costs are £92.87 million.

The Company's investment objective is to achieve long term capital growth from
investment in companies operating in Frontier Markets or whose stocks are
listed on the stock markets of such countries.

The management of the Company will be undertaken by the BlackRock Frontier
Markets team led by Sam Vecht. Mr Vecht is head of the Emerging Europe, Middle
East and Africa Equity Team within BlackRock's Fundamental Equity Portfolio
Management Group.

The Company's ticker is BRFI and its ISIN is GB00B3SXM832.

For further information please contact:

Jonathan Ruck Keene
BlackRock Investment Management (UK) Limited
Tel: [phone]

 
James Moseley / Jane Lewis
Winterflood Investment Trusts
Tel: [phone]