Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 22-February-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1296.95p    
INCLUDING current year revenue                              1311.93p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1259.82p    
INCLUDING current year revenue                              1274.80p    
The NAV includes a provision for any performance fee applicable.        
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