Net Asset Value(s)

Aberdeen Frontier Markets Investment Company Limited (the "Company")

LEI: 213800X9N731I4IPK361

The Company announces that its unaudited Net Asset Value ('NAV') as at the close of business on 23 July 2020 was as follows:

USD

GBP equivalent

NAV per Share (including income)*

0.5622

0.4412

NAV per Share (excluding income)*

0.5598

0.4393

Cash and cash equivalents (including future dated settlements) at this date represented 43.87 per cent. of the announced NAV.

* The NAV includes a provision in relation to the anticipated costs associated with the proposed liquidation of the Company as announced in the Circular issued to shareholders dated 16 July 2020.

www.aberdeenfrontiermarkets.co.uk

Enquiries:

Aberdeen Standard Fund Managers Limited (Alternative Investment Fund Manager to Aberdeen Frontier Markets Investment Company Limited)

William Hemmings / Gary Jones

Tel: +44 (0)20 7463 6000

Grant Thornton UK LLP (Nominated Adviser)

Philip Secrett

Tel: +44 (0)20 7383 5100

Numis Securities Limited (Nominated Broker)

David Benda

Tel: +44 (0) 20 7260 1275

END