RENN UNIVERSAL GROWTH INVESTMENT TRUST PLC

The Net Asset Value of the ordinary 25p shares of the Company at 24 January
2014 was as follows:

Including current period revenue 304.78 pence (US502.96c) (includes revenue
reserve losses up to and including 24 January 2014)

Excluding current period revenue 309.87 pence (US511.36c) (includes revenue
reserve losses up to and including the year ended 31 March 2013)

The exchange rate at which this was calculated was £=US$1.65025

As at 24 January 2014, the Company holds net cash of £13.688m, including UK
treasury gilts of £10.239m. The proportion of cash, including UK treasury
gilts, is expected to rise following the adoption of the new investment
policy and objective approved by shareholders on 17 April 2013.

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.

On 22 January 2014, Plures Technologies Inc. released a 8-K filing notice
stating that Advanced Microsensors Corporation, a subsidiary of Plures
Technologies Inc., had furloughed its staff and that a senior lender has
scheduled an auction of equipment for a date in February 2014.

As a consequence of the above notice the Plures market share price dropped
by 20 per cent from 25 cents to 20 cents per share. The market share price
of 20 cents per share is reflected within this NAV calculation and
represents 2.1% of total net assets as at 24 January 2014.



Intrinsic value of unlisted warrants as at 24 January     $714,257
2014



Sterling equivalent at exchange rate above:               £432,818

Time value of unlisted warrants as at 31 December
2013: (adjusted for warrants subsequently acquired,
exercised, expired or disposed)                               $878



Sterling equivalent at exchange rate above:                   £532

Share price as at 24 January 2014                          253.00p

Discount:                                                 (16.99%)

28 January 2014