Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 26-October-2011      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1253.99p    
INCLUDING current year revenue                              1283.84p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1219.14p    
INCLUDING current year revenue                              1248.99p    
The NAV includes a provision for any performance fee applicable.        
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