Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 01-November-2011     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1223.63p    
INCLUDING current year revenue                              1253.35p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1187.38p    
INCLUDING current year revenue                              1217.11p    
The NAV includes a provision for any performance fee applicable.        
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