Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 22-March-2012        
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1306.81p    
INCLUDING current year revenue                              1328.37p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1271.79p    
INCLUDING current year revenue                              1293.35p    
The NAV includes a provision for any performance fee applicable.        
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