Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 19-December-2014     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1849.87p    
INCLUDING current year revenue                              1857.52p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1797.24p    
INCLUDING current year revenue                              1804.90p    
The NAV includes a provision for any performance fee applicable.        
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