Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 24-November-2011     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1172.75p    
INCLUDING current year revenue                              1178.03p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1132.52p    
INCLUDING current year revenue                              1137.80p    
The NAV includes a provision for any performance fee applicable.        
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