Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 09-December-2014     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1856.21p    
INCLUDING current year revenue                              1862.09p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1804.35p    
INCLUDING current year revenue                              1810.23p    
The NAV includes a provision for any performance fee applicable.        
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