Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 19-January-2012      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1264.08p    
INCLUDING current year revenue                              1274.20p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1222.26p    
INCLUDING current year revenue                              1232.38p    
The NAV includes a provision for any performance fee applicable.        
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