Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 29-October-2012      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1342.42p    
INCLUDING current year revenue                              1374.37p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1286.08p    
INCLUDING current year revenue                              1318.04p    
The NAV includes a provision for any performance fee applicable.        
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