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NET ASSET VALUE

BLACKROCK FRONTIERS INVESTMENT TRUST PLC

The unaudited net asset values for BlackRock Frontiers Investment Trust plc at close of business 30 January 2013 were:

150.56c Capital only USD (cents)
95.33p Capital only Sterling (pence)
150.74c Including current year income USD (cents) XD
95.45p Including current year income Sterling (pence) XD

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.