Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 18-October-2012      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1367.45p    
INCLUDING current year revenue                              1399.51p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1312.73p    
INCLUDING current year revenue                              1344.80p    
The NAV includes a provision for any performance fee applicable.        
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