Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 03-February-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1280.19p    
INCLUDING current year revenue                              1291.25p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1240.38p    
INCLUDING current year revenue                              1251.45p    
The NAV includes a provision for any performance fee applicable.        
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