Result of AGM

Keystone Investment Trust plc                         

HEADLINE: Annual General Meeting Result

At the Annual General Meeting of the Company held on 21 December 2004
shareholders approved the following resolutions:

i. to receive the Directors' Report and Accounts for the year ended 30
September 2004;

ii. to declare a final dividend of 17.25p per ordinary share;
   
iii. to approve the Directors' Remuneration Report;
   
iv. to re-elect Mr William Kendall a Director of the Company;
   
 v. to re-appoint Ernst & Young LLP as Auditors and authorise the Directors to
    determine their remuneration;
   
vi. to renew the Directors' authority to issue new ordinary shares and to
    disregard pre-emption rights; and
   
vii. to renew the Directors' authority to purchase shares of the Company in the
    market for cancellation within the parameters specified.
   
Kerstin Rucht

INVESCO Asset Management Limited, Secretaries

21 December 2004