Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 04-July-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1307.27p    
INCLUDING current year revenue                              1325.95p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1261.37p    
INCLUDING current year revenue                              1280.06p    
The NAV includes a provision for any performance fee applicable.        
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