Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 29-June-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1282.51p    
INCLUDING current year revenue                              1299.96p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1236.78p    
INCLUDING current year revenue                              1254.23p    
The NAV includes a provision for any performance fee applicable.        
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