RUG Renn Universal

                  RENN UNIVERSAL GROWTH INVESTMENT TRUST PLC
                                (the "Company")

                             Voluntary liquidation

10 October 2014

On 17 April 2013, the Company changed its investment policy. The revised policy
states that the Company "will conduct an orderly realisation of the assets of
the Company, to be effected in a manner that seeks to achieve a balance between
returning cash to shareholders promptly and maximising the value of the
Company's portfolio". The Board's intention is to implement the revised policy
and realise the full value of the Company's portfolio as soon as possible.

In the Company's Annual Financial Report dated 23 June 2014 (the "Annual Report"),
the Chairman noted that pursuant to the revised investment policy, the
Company had returned £12.95 million to shareholders through a tender offer in
March 2014, and that the remaining portfolio was concentrated in a smaller
number of holdings.

Since the date of the Annual Report, RENN Capital Group Inc. (the "Manager")
has continued to realise assets but it has proved difficult for the Company to
make further significant disposals as the Board has been mindful of the
requirement to maintain a suitably diversified portfolio in order to preserve
the Company's investment trust status. Throughout this process, the Board has
been taking advice on the level of portfolio diversification required to avoid
jeopardising its investment trust status and the favourable tax treatment that
comes with it. The Annual Report indicated that, in order to continue the
orderly realisation of assets, it was possible that the Company would have to
enter voluntary liquidation at relatively short notice in order to preserve its
investment trust status. Provided that the Company qualifies as an investment
trust at the time it enters into voluntary liquidation this status will usually
be preserved.

Accordingly, based on the current degree of portfolio concentration and the
desire for the Manager to continue to realise assets in a timely fashion, the
Board has now determined that it is appropriate to recommend to shareholders
that the Company enters into voluntary liquidation as soon as practicable.

The Board intends to post a circular to shareholders in the next few weeks
which will recommend the Company's voluntary liquidation and the appointment of
liquidators.

In the Annual Report, the Chairman stated that the Board expected the Manager
to continue to make steady progress along the road to realisation with an
expectation that the portfolio would be liquidated by March 2015. The entry
into voluntary liquidation is intended to provide the Manager with the
flexibility to implement the realisation of the Company's portfolio
effectively. The Board and Manager are committed to realising the full value of
the Company's portfolio as soon as possible and the decision to move to
liquidation slightly earlier than originally envisaged should not impact the
proposed realisation programme. However, the Board recognises that certain
underlying investments are illiquid, including AnchorFree (which represents
some 45 per cent. of the Company's total assets), and while the Manager
continues to target a full realisation by the end of March 2015, it is possible
that some assets may take longer to realise.

Because of the restrictions on the Company's ability to dispose of assets prior
to the liquidation becoming effective, it is not expected that the voluntary
liquidation will involve a significant capital distribution immediately
thereafter. However, once the Company is in liquidation, the restrictions on
asset disposals will fall away (without jeopardising the Company's investment
trust status) and it is expected that an initial distribution to shareholders
will be made in early 2015 once the more liquid assets have been realised by
the proposed liquidators.

The proposed liquidators have indicated that they intend to retain the Manager
to manage the realisation of the portfolio on the remuneration terms approved
by shareholders to the end of March 2015 at the EGM held on 17 April 2013. In
the event that the Company's portfolio is not fully realised by March 2015, the
fees payable to the Manager will be renegotiated by the proposed liquidators,
taking into account the Manager's workload and the continuing alignment of
interests at that time.

Enquiries:

Andrew Barker
Chairman, RENN Universal Growth Investment Trust PLC
Tel: 020 8876 5667

Joe Winkley
Winterflood Investment Trusts
Tel: 020 3100 0301