Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 10-February-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1280.67p    
INCLUDING current year revenue                              1291.59p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1242.65p    
INCLUDING current year revenue                              1253.57p    
The NAV includes a provision for any performance fee applicable.        
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