Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 08-May-2012      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1265.45p    
INCLUDING current year revenue                              1292.72p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1227.15p    
INCLUDING current year revenue                              1254.42p    
The NAV includes a provision for any performance fee applicable.        
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