Appointment of Director

Keystone Investment Trust plc                         

HEADLINE: Appointment of Director

The Board of Keystone Investment Trust plc is pleased to announce the
appointment of Mrs Beatrice Hannah Millicent Hollond as a non-executive
Director of the Company with effect from 2 September 2003. Mrs Hollond is 43
and studied Oriental Languages at Pembroke College, Oxford University, before
moving into investment management. Between 1982 and 1985 she worked as UK
Equity Analyst for Morgan Grenfell Asset Management Limited, then moved to
Credit Suisse Asset Management Limited where she was Portfolio Manager, then
Director and, from 1995 to 2002, Managing Director of the Global Fixed Income
Division. She is currently deputy Chairman of Millbank Financial Services
Limited and Chairman of Millbank Investment Management Limited. She is also
Chairman of Artbar Limited.

No information is to be disclosed in respect of paragraphs 6.F.2 (b) - (g) of
the Financial Services Authority's Listing Rules.

INVESCO Asset Management Limited

2 September 2003