Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 19-December-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1381.37p    
INCLUDING current year revenue                              1387.44p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1326.15p    
INCLUDING current year revenue                              1332.22p    
The NAV includes a provision for any performance fee applicable.        
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