Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 18-April-2012        
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1297.39p    
INCLUDING current year revenue                              1322.82p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1260.59p    
INCLUDING current year revenue                              1286.02p    
The NAV includes a provision for any performance fee applicable.        
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