Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 29-February-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1298.15p    
INCLUDING current year revenue                              1314.41p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1258.48p    
INCLUDING current year revenue                              1274.75p    
The NAV includes a provision for any performance fee applicable.        
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