Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 21-November-2014     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1863.55p    
INCLUDING current year revenue                              1908.21p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1812.80p    
INCLUDING current year revenue                              1857.46p    
The NAV includes a provision for any performance fee applicable.        
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