Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 22-June-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1268.55p    
INCLUDING current year revenue                              1283.66p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1222.32p    
INCLUDING current year revenue                              1237.43p    
The NAV includes a provision for any performance fee applicable.        
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