Net Asset Value(s)

HEADLINE: Net Asset Values

It is announced that at the close of business on 25 January 2007 the unaudited
net asset values per share (AIC basis) of the following investment trust
companies managed by INVESCO Asset Management Limited are:-

                                           NAVs with Debt at Par & Fair Value 
                                                                              
Company                                    Undiluted Diluted Undiluted Diluted
                                                                              
                                             Capital Capital       Cum     Cum
                                                                              
                                                                Income  Income
                                                                              
                                             (pence) (pence)   (pence) (pence)
                                                                              
Keystone Investment Trust plc  Debt at Par   1304.50       -   1316.07       -
- see Note 3                                                                  
                                   Debt at   1255.87           1267.45        
                                Fair Value                                    
                                                                              

All the above NAVs have been calculated using the fair value (bid) prices for
the underlying investments.

Note:

3. The NAVs above include a provision for performance fee where applicable.

26 January 2007