Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 22-July-2014     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1803.87p    
INCLUDING current year revenue                              1830.95p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1759.84p    
INCLUDING current year revenue                              1786.92p    
The NAV includes a provision for any performance fee applicable.        
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