Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 19-April-2012        
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1302.57p    
INCLUDING current year revenue                              1328.00p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1265.77p    
INCLUDING current year revenue                              1291.20p    
The NAV includes a provision for any performance fee applicable.        
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