Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 24-December-2014     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1877.85p    
INCLUDING current year revenue                              1885.38p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1825.71p    
INCLUDING current year revenue                              1833.25p    
The NAV includes a provision for any performance fee applicable.        
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