Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 10-November-2011     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1224.78p    
INCLUDING current year revenue                              1256.05p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1184.83p    
INCLUDING current year revenue                              1216.10p    
The NAV includes a provision for any performance fee applicable.        
---