News Press Releases

RENN Fund, Inc. Board of Directors Approves Plan of Liquidation and Dissolution

RCG | April 5, 2016

RENN Fund, Inc. (NYSE MKT: RCG) (the “Fund”) announced today that the Fund’s Board of Directors has approved, subject to shareholder approval, the liquidation and dissolution of the Fund. The plan of liquidation and dissolution will be submitted to shareholders of the Fund at its annual meeting of shareholders planned to be held on June 30, 2016. The Board of Directors believes it is in the best interest of the Fund’s shareholders to liquidate the Fund because the size of the Fund and its income relative to expenses make it uneconomic to continue operating the Fund. If shareholders approve the plan of liquidation and dissolution, the Fund would distribute available cash and securities after making reasonable provision for known and potential liabilities, obligations and expenses of the Fund.

Details of the plan will be set forth in the proxy statement for the Fund’s 2016 annual shareholders’ meeting.

Important Additional Information will be filed with the SEC

This press release is for informational purposes only. It is not a solicitation of a proxy. In connection with the plan of liquidation and dissolution, the Fund intends to file with the SEC a proxy statement and other relevant materials. Shareholders may obtain a free copy of the proxy statement and the other relevant materials (when they become available), and any other documents filed by the Fund with the SEC, at the SEC’s web site at http://www.sec.gov. In addition, the Fund will make available or mail a copy of the definitive proxy statement to shareholders of record on the record date when it becomes available. A free copy of the proxy statement, when it becomes available, and other documents filed with the SEC by the Fund may also be obtained by directing a written request to: RENN Fund, Inc., Attn: Secretary, lynnemarie@rencapital.com. SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND THE OTHER RELEVANT MATERIALS WHEN THEY BECOME AVAILABLE BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE PLAN OF LIQUIDATION AND DISSOLUTION BECAUSE THEY CONTAIN IMPORTANT INFORMATION.

For additional information about the Fund, please visit www.rencapital.com.

Forward-Looking Statements

This document contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations and beliefs of the Fund’s management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such statements involve risks and uncertainties that may cause results to differ materially from those set forth in these statements. Such risks and uncertainties include, but are not limited to, the following: the ability of the Fund to obtain shareholder approval of the proposed plan of liquidation and dissolution, the possibility that the Fund’s Board of Directors could elect to abandon or delay implementation of the plan of liquidation and dissolution; the Fund’s ability to accurately estimate and make reasonable provision for the amounts required to pay all operating expenses, as well as other liabilities and obligations through the dissolution and wind-down process, the precise nature, amount and timing of any distributions to shareholders; the possibility that any distributions to shareholders could be diminished and/or delayed by, among other things, sales of our securities or other assets, unexpected or greater than expected expenses, liabilities or obligations; the possibility that distributions to shareholders may take several years to complete; the expectation that the shareholder meeting to approve the plan of liquidation and dissolution will occur on the date set forth herein; and other statements contained in this press release regarding matters that are not historical facts. Additional risk factors are more fully discussed in the Fund’s periodic reports filed with the SEC, all of which are available from the SEC’s website (www.sec.gov). The Fund is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events, or otherwise, except to the extent required by applicable law.