Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 28-June-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1264.55p    
INCLUDING current year revenue                              1282.02p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1217.43p    
INCLUDING current year revenue                              1234.90p    
The NAV includes a provision for any performance fee applicable.        
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