Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 24-November-2014     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1870.59p    
INCLUDING current year revenue                              1915.17p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1819.83p    
INCLUDING current year revenue                              1864.40p    
The NAV includes a provision for any performance fee applicable.        
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