RUG Renn Universal

RENN UNIVERSAL GROWTH INVESTMENT TRUST PLC

The Net Asset Value of the ordinary 25p shares of the Company at 31 May 2013
was as follows:

Including current period revenue 329.11 pence (US498.96c) (includes revenue
reserve losses up to and including 31 May 2013)

Excluding current period revenue 337.14 pence (US511.14c) (includes revenue
reserve losses up to and including the year ended 31 March 2012)

The exchange rate at which this was calculated was £=US$1.5161

The Net Asset Value calculation includes the time value of unlisted warrants
in respect of the portfolio valuation. 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 31 May 2013   $2,921,062



Sterling equivalent at exchange rate above:              £1,926,695

Time value of unlisted warrants as at 28 March 2013:
(adjusted for warrants subsequently acquired,
exercised, expired or disposed)                                $889



Sterling equivalent at exchange rate above:                    £586

Share price as at 31 May 2013                               229.50p

Discount:                                                  (30.27%)

04 June 2013