Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 10-July-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1311.17p    
INCLUDING current year revenue                              1330.14p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1263.34p    
INCLUDING current year revenue                              1282.31p    
The NAV includes a provision for any performance fee applicable.        
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