Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 31-December-2012     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1359.21p    
INCLUDING current year revenue                              1365.95p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1302.37p    
INCLUDING current year revenue                              1309.11p    
The NAV includes a provision for any performance fee applicable.        
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