Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 06-December-2011     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1239.14p    
INCLUDING current year revenue                              1244.84p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1202.27p    
INCLUDING current year revenue                              1207.97p    
The NAV includes a provision for any performance fee applicable.        
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