Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 06-February-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1280.42p    
INCLUDING current year revenue                              1291.42p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1242.76p    
INCLUDING current year revenue                              1253.77p    
The NAV includes a provision for any performance fee applicable.        
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