Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 27-June-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1269.26p    
INCLUDING current year revenue                              1286.75p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1222.49p    
INCLUDING current year revenue                              1239.98p    
The NAV includes a provision for any performance fee applicable.        
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