Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 20-May-2014      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1785.51p    
INCLUDING current year revenue                              1824.42p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1735.03p    
INCLUDING current year revenue                              1773.95p    
The NAV includes a provision for any performance fee applicable.        
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