Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 15-November-2011     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1241.55p    
INCLUDING current year revenue                              1272.71p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1201.98p    
INCLUDING current year revenue                              1233.14p    
The NAV includes a provision for any performance fee applicable.        
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