RUG Renn Universal

14 March 2014

                  RENN Universal Growth Investment Trust PLC
                                (the "Company")

         Result of Tender Offer, Tender Price and Total Voting Rights

On 18 February 2014, the Company published a circular to Shareholders (the
"Circular") detailing the terms and conditions of the tender offer for up to
25 per cent. (being up to 4,359,494 Shares) of its issued share capital (excluding
Shares held in treasury) as part of the Company's Realisation Strategy (the
"Tender Offer").

A total of 12,867,836 Shares were validly tendered under the Tender Offer. As a
result, the Basic Entitlement of all Shareholders who validly tendered their
Shares will be accepted in full and excess tenders will be satisfied to the
extent of approximately 1.8436% per cent. of the excess shares tendered
(expressed to four decimal places).

The Net Asset Value as at the Calculation Date was 300.0036 pence per Share
(expressed to four decimal places, exclusive of Tender Costs). The Tender
Price, calculated in accordance with the terms of the Circular, is 297.0036
pence per Share. 4,359,438 Shares will be repurchased by the Company under the
Tender Offer and cancelled and this equates to 24.9997% of the Company's Shares
in issue at 14 March 2014 (expressed to four decimal places).

It is expected that cheques will be despatched and CREST payments made by
21 March 2014 for those Shareholders who validly tendered their Shares.

Following the completion of the Tender Offer, the Company will have
13,078,541 Ordinary Shares in issue, carrying one vote per Share. Shareholders
should use the figure of 13,078,541 Ordinary Shares as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under the FCA's
Disclosure and Transparency Rules.

Terms used in this announcement shall, unless the context otherwise requires,
have the same meaning given to them in the Circular.

Enquiries:

Ernest Fenton
Chairman
Tel: 01892 822175

James Moseley
Winterflood Investment Trusts
Tel: 020 3100 0250