Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 20-November-2014     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1864.02p    
INCLUDING current year revenue                              1908.72p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1813.84p    
INCLUDING current year revenue                              1858.54p    
The NAV includes a provision for any performance fee applicable.        
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