Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 25-April-2012        
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1285.53p    
INCLUDING current year revenue                              1313.08p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1249.50p    
INCLUDING current year revenue                              1277.06p    
The NAV includes a provision for any performance fee applicable.        
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