Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 08-December-2011     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1229.69p    
INCLUDING current year revenue                              1236.36p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1190.43p    
INCLUDING current year revenue                              1197.10p    
The NAV includes a provision for any performance fee applicable.        
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