Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 21-January-2015      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1903.95p    
INCLUDING current year revenue                              1916.47p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1846.69p    
INCLUDING current year revenue                              1859.21p    
The NAV includes a provision for any performance fee applicable.        
---