Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 04-December-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1370.05p    
INCLUDING current year revenue                              1373.89p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1313.48p    
INCLUDING current year revenue                              1317.31p    
The NAV includes a provision for any performance fee applicable.        

---