Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 26-March-2012        
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1318.15p    
INCLUDING current year revenue                              1339.63p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1281.82p    
INCLUDING current year revenue                              1303.29p    
The NAV includes a provision for any performance fee applicable.        
---