Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 26-April-2012        
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1284.29p    
INCLUDING current year revenue                              1311.82p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1247.81p    
INCLUDING current year revenue                              1275.34p    
The NAV includes a provision for any performance fee applicable.        
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