Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 17-October-2012      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1363.25p    
INCLUDING current year revenue                              1395.33p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1308.30p    
INCLUDING current year revenue                              1340.38p    
The NAV includes a provision for any performance fee applicable.        
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