Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 18-June-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1251.61p    
INCLUDING current year revenue                              1266.80p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1203.20p    
INCLUDING current year revenue                              1218.39p    
The NAV includes a provision for any performance fee applicable.        
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