Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 15-March-2012        
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1310.27p    
INCLUDING current year revenue                              1331.59p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1274.39p    
INCLUDING current year revenue                              1295.71p    
The NAV includes a provision for any performance fee applicable.