Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 14-February-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1292.85p    
INCLUDING current year revenue                              1303.67p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1253.71p    
INCLUDING current year revenue                              1264.53p    
The NAV includes a provision for any performance fee applicable.        
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