Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 21-March-2012        
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1310.57p    
INCLUDING current year revenue                              1332.15p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1275.97p    
INCLUDING current year revenue                              1297.54p    
The NAV includes a provision for any performance fee applicable.        
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