Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 08-November-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1333.18p    
INCLUDING current year revenue                              1365.67p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1276.22p    
INCLUDING current year revenue                              1308.71p    
The NAV includes a provision for any performance fee applicable.        
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