Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 23-August-2012       
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1323.57p    
INCLUDING current year revenue                              1351.18p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1276.26p    
INCLUDING current year revenue                              1303.87p    
The NAV includes a provision for any performance fee applicable.        
---