Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 05-July-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1305.44p    
INCLUDING current year revenue                              1324.09p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1259.04p    
INCLUDING current year revenue                              1277.70p    
The NAV includes a provision for any performance fee applicable.        
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