Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 09-January-2012      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1256.50p    
INCLUDING current year revenue                              1264.74p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1214.43p    
INCLUDING current year revenue                              1222.67p    
The NAV includes a provision for any performance fee applicable.        
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