Net Asset Value(s)

Keystone Investment Trust Plc                                                
As at close of business on 23-September-2011                                 
NAV per Ordinary share (unaudited) with Debt at Par                          
EXCLUDING undistributed current year revenue                      1178.77p   
INCLUDING current year revenue                                    1205.68p   
NAV per Ordinary share (unaudited) with Debt at Fair Value                   
EXCLUDING undistributed current year revenue                      1143.98p   
INCLUDING current year revenue                                    1170.89p   
The NAV includes a provision for any performance fee applicable.             
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