Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 05-January-2012      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1252.40p    
INCLUDING current year revenue                              1260.73p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1211.34p    
INCLUDING current year revenue                              1219.68p    
The NAV includes a provision for any performance fee applicable.        
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