Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 31-October-2012      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1329.80p    
INCLUDING current year revenue                              1362.44p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1274.14p    
INCLUDING current year revenue                              1306.79p    
The NAV includes a provision for any performance fee applicable.        
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