Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 16-December-2014     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1811.16p    
INCLUDING current year revenue                              1818.88p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1757.61p    
INCLUDING current year revenue                              1765.33p    
The NAV includes a provision for any performance fee applicable.        
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