Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 22-August-2012       
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1326.85p    
INCLUDING current year revenue                              1354.48p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1280.91p    
INCLUDING current year revenue                              1308.54p    
The NAV includes a provision for any performance fee applicable.        
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