Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 11-January-2012      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1265.64p    
INCLUDING current year revenue                              1273.94p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1225.00p    
INCLUDING current year revenue                              1233.29p    
The NAV includes a provision for any performance fee applicable.        
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