Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 15-October-2012      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1345.93p    
INCLUDING current year revenue                              1376.63p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1288.72p    
INCLUDING current year revenue                              1319.42p    
The NAV includes a provision for any performance fee applicable.        
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