Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 06-January-2012      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1258.88p    
INCLUDING current year revenue                              1267.18p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1217.14p    
INCLUDING current year revenue                              1225.45p    
The NAV includes a provision for any performance fee applicable.        
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