NET ASSET VALUE

BLACKROCK FRONTIERS INVESTMENT TRUST PLC

The unaudited net asset values for the ordinary shares of BlackRock Frontiers
Investment Trust plc at close of business on 24 November 2015 were:

163.17c  Capital only USD (cents)
108.30p  Capital only Sterling (pence)
167.49c  Including current year income USD (cents)
111.16p  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 unaudited NAV above has been calculated on the basis of
150,621,621 Ordinary Shares in issue.