Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 28-December-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1365.65p    
INCLUDING current year revenue                              1372.47p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1308.71p    
INCLUDING current year revenue                              1315.53p    
The NAV includes a provision for any performance fee applicable.        
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