Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 07-August-2012       
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1343.94p    
INCLUDING current year revenue                              1365.43p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1296.72p    
INCLUDING current year revenue                              1318.21p    
The NAV includes a provision for any performance fee applicable.        
---