Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 05-December-2011     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1236.45p    
INCLUDING current year revenue                              1242.17p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1199.47p    
INCLUDING current year revenue                              1205.19p    
The NAV includes a provision for any performance fee applicable.        
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