Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 07-February-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1283.96p    
INCLUDING current year revenue                              1294.94p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1245.59p    
INCLUDING current year revenue                              1256.58p    
The NAV includes a provision for any performance fee applicable.        
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