Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 20-August-2012       
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1342.31p    
INCLUDING current year revenue                              1369.85p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1296.28p    
INCLUDING current year revenue                              1323.82p    
The NAV includes a provision for any performance fee applicable.        
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