Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 02-May-2012      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1295.08p    
INCLUDING current year revenue                              1322.48p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1257.66p    
INCLUDING current year revenue                              1285.06p    
The NAV includes a provision for any performance fee applicable.        
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