Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 18-November-2014     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1865.33p    
INCLUDING current year revenue                              1909.72p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1815.62p    
INCLUDING current year revenue                              1860.00p    
The NAV includes a provision for any performance fee applicable.        
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