Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 03-July-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1306.24p    
INCLUDING current year revenue                              1323.60p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1260.43p    
INCLUDING current year revenue                              1277.79p    
The NAV includes a provision for any performance fee applicable.        
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