Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 02-December-2011     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1232.45p    
INCLUDING current year revenue                              1238.23p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1194.31p    
INCLUDING current year revenue                              1200.10p    
The NAV includes a provision for any performance fee applicable.        
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