Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 03-August-2012       
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1337.72p    
INCLUDING current year revenue                              1359.35p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1290.19p    
INCLUDING current year revenue                              1311.83p    
The NAV includes a provision for any performance fee applicable.        
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