Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 03-May-2012      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1299.85p    
INCLUDING current year revenue                              1327.23p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1262.41p    
INCLUDING current year revenue                              1289.80p    
The NAV includes a provision for any performance fee applicable.        
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