Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 25-November-2014     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1874.40p    
INCLUDING current year revenue                              1918.18p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1823.09p    
INCLUDING current year revenue                              1866.87p    
The NAV includes a provision for any performance fee applicable.        
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