Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 01-December-2014     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1876.94p    
INCLUDING current year revenue                              1882.61p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1824.33p    
INCLUDING current year revenue                              1830.00p    
The NAV includes a provision for any performance fee applicable.        
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