Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 02-July-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1295.13p    
INCLUDING current year revenue                              1312.50p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1248.88p    
INCLUDING current year revenue                              1266.25p    
The NAV includes a provision for any performance fee applicable.        
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