Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 23-March-2012        
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1308.87p    
INCLUDING current year revenue                              1330.41p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1273.26p    
INCLUDING current year revenue                              1294.80p    
The NAV includes a provision for any performance fee applicable.        
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