Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 18-December-2014     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1843.67p    
INCLUDING current year revenue                              1851.34p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1791.52p    
INCLUDING current year revenue                              1799.19p    
The NAV includes a provision for any performance fee applicable.        
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