Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 30-November-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1363.80p    
INCLUDING current year revenue                              1367.71p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1307.13p    
INCLUDING current year revenue                              1311.04p    
The NAV includes a provision for any performance fee applicable.        
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