Correction : Miscellaneous - Monthly Performance

Please be advised that the previous announcement made today at 16.39 had an
incorrect date shown as 30 April 2004 when it should have read 31 May 2004.
Below is the full and correct version of the announcement.



                         Keystone Investment Trust plc                         

Headline: Monthly Performance

Fact Sheet 31 May 2004

Sector Breakdown

Resources                                              0.0%               
                                                                          
Basic Industries                                       3.1%               
                                                                          
General Industrials                                    2.0%               
                                                                          
Cyclical Consumer Goods                                0.0%               
                                                                          
Non-cyclical Consumer Goods                            28.3%              
                                                                          
Cyclical Services                                      17.2%              
                                                                          
Non-Cyclical Services                                  11.5%              
                                                                          
Utilities                                              14.9%              
                                                                          
Financials                                             6.4%               
                                                                          
Information Technology                                 0.4%               
                                                                          
Fixed Interest                                         0.9%               
                                                                          
Net current assets                                     15.3%              
                                                                          
                                                       100.0%             

Statistics

Total Gross Assets                                     £148.0m            
                                                                          
Net Asset Value Per Ordinary Share                     809.1p             
                                                                          
Mid-Market Price                                                          
                                                                          
- Ordinary Shares 31 May 2004                          722.50p            
                                                                          
Estimated Yield (net) on Ordinary Shares               3.5%               
                                                                          
Premium/(discount)                                     (10.7)%            
                                                                          
Dividends (Estimated based on last year)               25.00p             
                                                                          
Asset Gearing*                                         116.0              
                                                                          
Asset Gearing* excluding fixed interest securities     115.0              
                                                                          
* reflects the amount of loans actively invested in                       
assets and not held in cash. It is calculated by                          
dividing fixed assets investments by Shareholders'                        
funds                                                                     
                                                                          
Value of debt                                          £39.6m             
                                                                          
Ordinary shares in issue                               13,368,799         
                                                                          
(Figures as at 31 May 2004)                                               

Top 10 Equity Holdings incl convertibles * % of Portfolio

1 BT Group                                             4.61%              
                                                                          
2 RJ Reynolds                                          4.12%              
                                                                          
3 Tesco                                                4.10%              
                                                                          
4 Brit American Tobacco                                3.65%              
                                                                          
5 GlaxoSmithkline                                      3.57%              
                                                                          
5 National Grid Transco                                3.52%              
                                                                          
6 Altria                                               3.20%              
                                                                          
8 Unilever                                             3.20%              
                                                                          
9 Celltech                                             2.93%              
                                                                          
10 Lloyds TSB                                          2.59%              

Figures as at 31 May 2004

* Ordinary Shares unless stated otherwise

Ordinary Share Performance

                              Since 01/01/03     1 Year     3 Years     5 Years
                                           *                                   
                                                                               
Share Price                           +50.2%     +31.3%      -18.9%      -28.8%
                                                                               
NAV                                   +38.0%     +25.5%      -17.3%      -23.2%
                                                                               
Benchmark                             +22.5%     +15.6%      -13.9%      -12.2%

* With effect from 1 January 2003 INVESCO Asset Management Limited was
appointed Investment Manager of the Company

Figures supplied by INVESCO Marketing / Datastream

                                                                    31 May 2004