Net Asset Value(s)

BLACKROCK FRONTIERS INVESTMENT TRUST PLC

The unaudited net asset values for BlackRock Frontiers Investment Trust plc at
close of business 6 January 2012 was:

120.23c Capital only USD (cents)
78.03p Capital only Sterling (pence)
123.19c Including current year income USD (cents)
79.95p 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 number of shares in issue is 94,766,267.