Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 21-August-2012       
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1343.34p    
INCLUDING current year revenue                              1370.86p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1297.98p    
INCLUDING current year revenue                              1325.50p    
The NAV includes a provision for any performance fee applicable.        
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