Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 03-December-2014     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1880.56p    
INCLUDING current year revenue                              1886.20p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1829.73p    
INCLUDING current year revenue                              1835.37p    
The NAV includes a provision for any performance fee applicable.        
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