Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 16-January-2012      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1259.90p    
INCLUDING current year revenue                              1268.09p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1217.75p    
INCLUDING current year revenue                              1225.94p    
The NAV includes a provision for any performance fee applicable.        
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