Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 31-May-2012      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1232.44p    
INCLUDING current year revenue                              1244.85p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1188.95p    
INCLUDING current year revenue                              1201.36p    
The NAV includes a provision for any performance fee applicable.        
---