Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 18-July-2014     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1793.23p    
INCLUDING current year revenue                              1820.42p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1749.07p    
INCLUDING current year revenue                              1776.26p    
The NAV includes a provision for any performance fee applicable.        
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