Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 20-October-2014      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1736.84p    
INCLUDING current year revenue                              1777.97p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1687.42p    
INCLUDING current year revenue                              1728.54p    
The NAV includes a provision for any performance fee applicable.        
---