Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 24-August-2012       
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1329.69p    
INCLUDING current year revenue                              1357.27p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1281.59p    
INCLUDING current year revenue                              1309.17p    
The NAV includes a provision for any performance fee applicable.        
---