Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 27-April-2012        
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1287.78p    
INCLUDING current year revenue                              1315.29p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1251.72p    
INCLUDING current year revenue                              1279.23p    
The NAV includes a provision for any performance fee applicable.        
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