Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 31-October-2014      
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1822.77p    
INCLUDING current year revenue                              1865.94p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1774.85p    
INCLUDING current year revenue                              1818.02p    
The NAV includes a provision for any performance fee applicable.        
---