Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 11-December-2014     
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1848.52p    
INCLUDING current year revenue                              1855.67p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1796.82p    
INCLUDING current year revenue                              1803.97p    
The NAV includes a provision for any performance fee applicable.        
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