Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 17-February-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1294.92p    
INCLUDING current year revenue                              1309.06p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1256.77p    
INCLUDING current year revenue                              1270.90p    
The NAV includes a provision for any performance fee applicable.        
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