Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 20-January-2015      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1890.15p    
INCLUDING current year revenue                              1902.65p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1833.31p    
INCLUDING current year revenue                              1845.82p    
The NAV includes a provision for any performance fee applicable.        
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