RUG Renn Universal

RENN UNIVERSAL GROWTH INVESTMENT TRUST PLC


The Net Asset Value of the ordinary 25p shares of the Company
at 21 March 2014 was as follows:

Including current period revenue 322.22 pence (US531.49c) (includes
revenue reserve losses up to and including 21 March 2014)

Excluding current period revenue 329.65 pence (US543.74c) (includes
revenue reserve losses up to and including the year ended 31 March
2013)

The exchange rate at which this was calculated was £=US$1.64945

As at 21 March 2014, the Company held net cash of £2.459m.

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 21 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 21 March 2014 269.50p


Discount: (16.36%)

24 March 2014