Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 18-October-2011      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1234.51p    
INCLUDING current year revenue                              1263.30p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1199.80p    
INCLUDING current year revenue                              1228.58p    
The NAV includes a provision for any performance fee applicable.        
---