Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 09-February-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1282.44p    
INCLUDING current year revenue                              1293.38p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1244.35p    
INCLUDING current year revenue                              1255.29p    
The NAV includes a provision for any performance fee applicable.        
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