Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 01-March-2012        
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1306.15p    
INCLUDING current year revenue                              1322.39p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1266.90p    
INCLUDING current year revenue                              1283.14p    
The NAV includes a provision for any performance fee applicable.        
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