Investment Policy

Keystone Investment Trust plc                         

HEADLINE: Investment Policy

The Board of Keystone Investment Trust plc ('the Company') notes the
publication of the Investment Entities (Listing Rules and Conduct of Business)
Instrument 2003 and announces that it is the Company's policy to invest no more
than 15% of its gross assets in other listed investment companies (including
listed investment trusts).

Contact: Kerstin Rucht

020 7065 4517

For and on behalf of

INVESCO Asset Management Limited - Secretaries

23 October 2003