Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 14-October-2011      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1246.81p    
INCLUDING current year revenue                              1275.69p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1212.92p    
INCLUDING current year revenue                              1241.79p    
The NAV includes a provision for any performance fee applicable.        
---