Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 31-August-2012       
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1328.25p    
INCLUDING current year revenue                              1355.68p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1279.19p    
INCLUDING current year revenue                              1306.62p    
The NAV includes a provision for any performance fee applicable.        
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