Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 01-February-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1263.00p    
INCLUDING current year revenue                              1274.10p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1221.44p    
INCLUDING current year revenue                              1232.54p    
The NAV includes a provision for any performance fee applicable.        
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