Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 20-September-2012        
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1349.32p    
INCLUDING current year revenue                              1379.20p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1300.14p    
INCLUDING current year revenue                              1330.02p    
The NAV includes a provision for any performance fee applicable.        
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