RUG Renn Universal

RENN UNIVERSAL GROWTH INVESTMENT TRUST PLC

The Net Asset Value of the ordinary 25p shares of the Company at 16 August
2013 was as follows:

Including current period revenue 317.04 pence (US495.01c) (includes revenue
reserve losses up to and including 16 August 2013)

Excluding current period revenue 319.82 pence (US499.35c) (includes revenue
reserve losses up to and including the year ended 31 March 2013)

The exchange rate at which this was calculated was £=US$1.56135

As at 16 August 2013, the Company holds net cash of £5.618m, and expects
the proportion to rise following the adoption of the new investment policy
and objective approved by shareholders on 17 April 2013.

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 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 16 August    $2,921,062
2013



Sterling equivalent at exchange rate above:             £1,870,857

Time value of unlisted warrants as at 28 June 2013:
(adjusted for warrants subsequently acquired,
exercised, expired or disposed)                               $638



Sterling equivalent at exchange rate above:                   £409

Share price as at 16 August 2013                           238.50p

Discount:                                                 (24.77%)

20 August 2013