RUG Renn Universal

RENN UNIVERSAL GROWTH INVESTMENT TRUST PLC


The Net Asset Value of the ordinary 25p shares of the Company
at 14 March 2014 was as follows:

Including current period revenue 302.42 pence (US502.86c)
(includes revenue reserve losses up to and including 14 March 2014)

Excluding current period revenue 307.89 pence (US511.96c)
(includes revenue reserve losses up to and including the year ended
31 March 2013)

The exchange rate at which this was calculated was £=US$1.6628

As at 14 March 2014, the Company holds net cash of £15.563m.

On 14 March 2014 it was announced that the Company will repurchase
4,359,438 shares under the Tender Offer at a price of 297.0036 pence
per share. The repurchase was completed on 17 March 2014 as set out
in the Tender Offer document issued on 18 February 2014.

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 14 March 2014 $0

Sterling equivalent at exchange rate above: £0

Time value of unlisted warrants as at 31 December 2013: (adjusted for warrants
subsequently acquired, exercised, expired or disposed)$0

Sterling equivalent at exchange rate above: £0

Share price as at 14 March 2014 269.50p

Discount:(10.89%)

18 March 2014