Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 30-January-2012      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1246.36p    
INCLUDING current year revenue                              1257.21p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1206.02p    
INCLUDING current year revenue                              1216.87p    
The NAV includes a provision for any performance fee applicable.        
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