Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 13-February-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1289.61p    
INCLUDING current year revenue                              1300.47p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1250.09p    
INCLUDING current year revenue                              1260.95p    
The NAV includes a provision for any performance fee applicable.        
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