Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 30-April-2012        
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1282.95p    
INCLUDING current year revenue                              1310.40p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1246.48p    
INCLUDING current year revenue                              1273.93p    
The NAV includes a provision for any performance fee applicable.        
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