Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 23-July-2014     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1802.67p    
INCLUDING current year revenue                              1831.59p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1758.23p    
INCLUDING current year revenue                              1787.16p    
The NAV includes a provision for any performance fee applicable.        
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