Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 29-December-2014     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1876.36p    
INCLUDING current year revenue                              1885.40p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1823.56p    
INCLUDING current year revenue                              1832.60p    
The NAV includes a provision for any performance fee applicable.        
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