RUG Renn Universal

RENN UNIVERSAL GROWTH INVESTMENT TRUST PLC


The Net Asset Value of the ordinary 25p shares of the Company at 04 July 2014 was
 as follows:

Including current period revenue 280.80 pence (US481.50c) (includes revenue
 reserve losses up to and including 04 July 2014)

Excluding current period revenue 282.70 pence (US484.76c) (includes revenue
reserve losses up to and including the year ended 31 March 2014)

The exchange rate at which this was calculated was £=US$1.71475

As at 04 July 2014, the Company held net cash of £2.146m.

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 04 July 2014 $0

Sterling equivalent at exchange rate above: £0

Time value of unlisted warrants as at 30 June 2014: (adjusted for warrants
subsequently acquired, exercised, expired or disposed)$0

Sterling equivalent at exchange rate above: £0

Share price as at 04 July 2014 266.00p


Discount:(5.27%)

07 July 2014