Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 14-March-2012        
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1312.98p    
INCLUDING current year revenue                              1334.31p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1273.97p    
INCLUDING current year revenue                              1295.31p    
The NAV includes a provision for any performance fee applicable.        
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