Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 02-November-2011     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1228.62p    
INCLUDING current year revenue                              1260.03p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1189.49p    
INCLUDING current year revenue                              1220.90p    
The NAV includes a provision for any performance fee applicable.        
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