Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 15-August-2012       
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1341.36p    
INCLUDING current year revenue                              1369.02p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1295.72p    
INCLUDING current year revenue                              1323.38p    
The NAV includes a provision for any performance fee applicable.        
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