Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 16-July-2014     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1803.31p    
INCLUDING current year revenue                              1830.55p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1760.11p    
INCLUDING current year revenue                              1787.35p    
The NAV includes a provision for any performance fee applicable.        
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