Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 14-November-2014     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1850.86p    
INCLUDING current year revenue                              1895.34p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1800.89p    
INCLUDING current year revenue                              1845.36p    
The NAV includes a provision for any performance fee applicable.        
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