Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 28-October-2011      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1272.33p    
INCLUDING current year revenue                              1302.14p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1240.31p    
INCLUDING current year revenue                              1270.12p    
The NAV includes a provision for any performance fee applicable.        
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