RUG Renn Universal

 
TIDMRUG 
 
RENAISSANCE US GROWTH INVESTMENT TRUST PLC 
 
The Net Asset Value of the ordinary 25p shares of the Company at 6 November 
2009 was: 
 
Including current period revenue 285.64 pence (US 474.42c) (includes revenue 
losses up to and including 6 November 2009) 
 
Excluding current period revenue 288.01 pence (US 478.36c) (includes revenue 
losses up to and including the year ended 31 March 2009 only) 
 
The exchange rate at which this was calculated was GBP=US$1.66090 
 
The net asset value calculation includes the time value of unlisted warrants in 
respect of the portfolio valuation, as set out in the announcement made by the 
Company on 31 May 2008. The Company has adopted the Black Scholes methodology 
and will calculate the time value (in US Dollars) of unlisted warrants every 
quarter. The warrants included in the portfolio for the twice weekly NAV 
calculations will be calculated by valuing the intrinsic value of the warrants 
and adding the time value as at the most recently calculated quarterly 
valuation. 
 
Intrinsic value of unlisted warrants as at 6 November 2009:          $1,527,269 
 
Sterling equivalent at exchange rate above:                            GBP919,543 
 
Time value of unlisted warrants as at 30 September 2009:               $290,797 
(adjusted for warrants subsequently acquired, exercised, 
expired or disposed) 
 
Sterling equivalent at exchange rate above:                            GBP175,084 
 
On 6 November 2009, one of the Company's unlisted investments (Asian Financial) 
became listed on the New York Stock Exchange. This company is now known as 
Duoyuan Printing (NYSE DYP). The listing more than doubled the value of this 
holding. The Company has since sold a proportion of this holding and the impact 
of these events upon the Company's net asset value calculation as at 6 November 
(set out above) is as follows: 
 
Gain on sale of shares: GBP605,589 
 
Uplift in valuation on remaining holding: GBP472,734 
 
Total gains reflected in the NAV calculation as at 6 November: GBP1,078,323 (5.64 
pence per share). This uplift represents a 2.04% increase in the value of this 
investment from the NAV calculation as at 4 November. 
 
11.11.09 
 
 
 
END 
 

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