Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 05-November-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1338.58p    
INCLUDING current year revenue                              1371.14p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1282.29p    
INCLUDING current year revenue                              1314.86p    
The NAV includes a provision for any performance fee applicable.        
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