Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 04-September-2012        
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1327.18p    
INCLUDING current year revenue                              1354.51p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1277.72p    
INCLUDING current year revenue                              1305.05p    
The NAV includes a provision for any performance fee applicable.        
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