Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 21-June-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1272.38p    
INCLUDING current year revenue                              1287.52p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1226.05p    
INCLUDING current year revenue                              1241.19p    
The NAV includes a provision for any performance fee applicable.        
---