Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 19-October-2012      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1365.60p    
INCLUDING current year revenue                              1397.65p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1310.72p    
INCLUDING current year revenue                              1342.76p    
The NAV includes a provision for any performance fee applicable.        
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