RUG Renn Universal

RENN UNIVERSAL GROWTH INVESTMENT TRUST PLC

The Net Asset Value of the ordinary 25p shares of the Company at 15 August 2014
was as follows:

Including current period revenue 286.82 pence (US478.56c) (includes revenue
reserve losses up to and including 15 August 2014)

Excluding current period revenue 289.57 pence (US483.15c) (includes revenue
reserve losses up to and including the year ended 31 March 2014)

The exchange rate at which this was calculated was £=US$1.6685

As at 15 August 2014, the Company held net cash of £2.695m.


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 15 August 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 15 August 2014 254.50p

Discount:(11.27%)

19 August 2014