RENN UNIVERSAL GROWTH INVESTMENT TRUST PLC

                         Interim Management Statement
      for the three month period from 1 October 2013 to 31 December 2013

The Board of RENN Universal Growth Investment Trust PLC (the "Company") is
pleased to present the Company's Interim Management Statement.

The investment objective and policy of the Company are set out below:

Investment objective

To 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.

Investment policy

The Company's investments will be realised in an orderly manner in accordance
with the investment objective.

The Company may not make any new investments save that (a) subject to Board
approval, further investment may be made into existing investments in order to
preserve the value of such investments; and (b) realised cash may be invested
in liquid cash-equivalent securities, denominated in Sterling, including
short-dated corporate bonds, government bonds, cash funds, or bank cash
deposits pending its return to shareholders in accordance with the Company's
investment objective.

No more than 10% of the Company's total assets may be invested in any single
cash equivalent instrument or placed on deposit with any single institution
except that this limit does not apply to investment in government bonds, which
shall be unconstrained.

The Company may not employ gearing.

The Company will continue to comply with the restrictions imposed by the
Listing Rules in force from time to time.


Financial highlights: Performance

                                    31 December    30 September       % change
                                           2013            2013
Net assets

Sterling                             50,737,000      54,214,000           (6.4)

US Dollar                            84,034,000      87,794,000           (4.3)

Number of Ordinary shares            17,437,979      17,437,979            0.0


Net asset value

Pence per share                          290.96          310.90           (6.4)

US cents per share                       481.90          503.47           (4.3)

Mid Market price                         249.50          236.00            5.7

Discount to NAV                           14.25%          24.09%          9.84


Russell 2000 Index (Total Return)

US Dollar                              5,417.36        4,982.85            8.7

Sterling adjusted                      3,270.17        3,079.06            6.2


S&P 500 Index (Total Return)

US Dollar                              3,315.59        3,000.18           10.5

Sterling adjusted                      2,001.44        1,853.91            8.0


Financial highlights: Summary of net assets

                                    31 December    30 September       % change
                                           2013            2013
                                          £'000           £'000

Listed portfolio holdings                20,012          27,123          (26.2)

Unlisted unquoted portfolio              16,672          17,052           (2.2)
holdings

Other unlisted portfolio holdings         1,458           2,849          (48.8)

UK Treasury holdings                     10,076               -          100.0

Time value of warrants                        1               -          100.0

Cash at bank                              2,394           7,171          (66.6)

Net current assets                          627             500           25.4

Total net assets                         51,240          54,695           (6.3)

Provision for liabilities and              (503)           (481)          (4.6)
charges

Net assets                               50,737          54,214           (6.4)


Review of the period

The Company's half yearly results were released on 27 November 2013.

During the quarter, no Ordinary shares were repurchased by the Company for
cancellation or to be held in Treasury.

In line with the Company's new investment objective to conduct an orderly
realisation of the assets of the Company, in the quarter under review, the
Company has disposed of its holdings in DXP Enterprises and Cantel Medical
Corporation and partially disposed of its holdings in Points International and
Skystar Bio-Pharmaceutical for combined proceeds of $9.333m (£5.791m).

The Company has also invested, in line with its investment policy, a total of
£10.239m, including accrued interest of £0.122m, in short-term UK government
bonds.

A number of holdings have been sold completely or in part, and the cash balance
at the end of the period under review was £12.772m, including UK treasury gilts
of £10.239m. This has grown to £13.979m as at 30 January 2014. The Board is on
course, as planned, to make a significant return of capital to shareholders in
the first quarter of 2014.

NAV performance

The NAV decreased from 310.90p on 30 September 2013 to 290.96p on 31 December
2013 resulting in a three month decrease of 6.4% against the Russell 2000
increase (in Sterling terms) of 6.2%.

Largest holdings

As at 31 December 2013, the Company's three largest holdings were AnchorFree,
Cover-All Technologies and Flamel Technologies.

AnchorFree is the developer and operator of Hotspot Shield, a virtual private
network software enabling users to access all internet content anonymously and
securely from any location in the world. Cover-All Technologies is a leader in
developing sophisticated software solutions primarily for the property and
casualty insurance industry. Flamel Technologies is a specialty pharmaceutical
company engaging in the development and commercialisation of controlled release
therapeutic products.

Portfolio holdings as at 31 December 2013
                                                                       % of Net
Company Name                Sector                             Value     Assets
                                                                $000

AnchorFree*                 Wireless Communications           27,613       32.9

Cover-All Technologies      Information Technology            10,688       12.7

Flamel Technologies         Pharmaceuticals                    6,440        7.7

iSatori                     Personal Products                  5,983        7.1

Points International        Internet Software                  4,523        5.4

Bovie Medical Corporation   Healthcare Services                3,440        4.1

Plures Technologies         Semiconductors                     2,312        2.7

Charles & Colvard           Clothing & Accessories             1,010        1.2

Tiger Media                 Advertising                          755        0.9

PetroHunter Energy          Oil and Gas Exploration              249        0.3

Skystar Bio-Pharmaceutical  Pharmaceuticals                      161        0.2

Total US portfolio
valuation                                                     63,174       75.2


Cash equivalent investment

UK Treasury 5% 07/09/2014** Government Debt                   16,688       19.8

Total portfolio valuation                                     79,862       95.0

* unquoted holding - held at valuation as at 31 March 2013.

** UK Treasury gilt is a liability of the UK Government which guarantees to pay
the holder of the gilt a fixed cash payment every six months until the maturity
date, at which point the holder receives a final payment and return of the
principal. The Company has a principal nominal holding of £9.770m as at
31 December 2013, valued at £10.076m ($16.688m).

Subsequent events

Since 31 December 2013, the Company has continued to dispose of its holding in
Points International and has fully disposed of its holding in Skystar
Bio-Pharmaceuticals, realising combined proceeds of $2.166m (£1.315m) as at
30 January 2014.

On 22 January 2014, Plures Technologies ("Plures") released an 8-K filing
notice stating that Advanced Microsensors Corporation, a subsidiary of Plures,
had furloughed its staff and that a senior lender has scheduled an auction of
equipment for a date in February 2014. Since 31 December 2013, Plures' market
share price has fallen by 34.8% from 25 cents to 16.3 cents per share as at
30 January 2014. The Board and the Investment Manager continue to monitor the
situation closely.

The Company has not repurchased any of the Company's own shares for
cancellation or to be held in Treasury. Other than those stated, the Board is
not aware of any other significant events or transactions which have occurred
since 31 December 2013 and the date of publication of this statement which
would have a material effect on the financial position of the Company.


31 January 2014


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the contents of any website accessible from hyperlinks on the website (or any
website) is incorporated into, or forms part of this announcement.