Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 12-October-2011      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1238.81p    
INCLUDING current year revenue                              1267.72p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1208.56p    
INCLUDING current year revenue                              1237.47p    
The NAV includes a provision for any performance fee applicable.        
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