Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 17-December-2014     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1807.77p    
INCLUDING current year revenue                              1815.49p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1754.07p    
INCLUDING current year revenue                              1761.79p    
The NAV includes a provision for any performance fee applicable.        
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