Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 10-December-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1379.61p    
INCLUDING current year revenue                              1385.00p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1322.24p    
INCLUDING current year revenue                              1327.63p    
The NAV includes a provision for any performance fee applicable.        
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