Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 15-June-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1248.46p    
INCLUDING current year revenue                              1263.72p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1200.56p    
INCLUDING current year revenue                              1215.82p    
The NAV includes a provision for any performance fee applicable.        
---