NEW YORK, July 19 /PRNewswire-FirstCall/ -- - Oldest and largest small-cap closed-end fund - Average weekly trading volume of approximately 330,000 shares - Fund's adviser has more than 30 years of small- and micro-cap investment experience Closing Prices - June 30, 2006 NAV $19.81 MKT $19.36 Total Return Performance Periods ended June 30, 2006 NAV MKT 1 Month* -0.51% -3.72% Year to Date* 9.64 0.69 One-Year 21.33 11.66 Three-Year Average Annual 21.33 18.71 Five-Year Average Annual 11.34 13.51 10-Year Average Annual 13.88 15.41 *Not Annualized Portfolio Diagnostics Wtd. Average Market Cap: $1,558 million Wtd. Average P/E Ratio: 20.7x* Wtd. Average P/B Ratio: 2.2x Wtd. Average Yield: 0.8% Net Assets Attributable to Common Stock: $1127 million Net Leverage: 0% *The Fund's P/E ratio calculation excludes companies with zero or negative earnings. Net leverage is the percentage, in excess of 100%, of the total value of equity type investments, divided by net assets, applicable to common stock. Portfolio Composition Top 10 Positions % of Net Assets 1. AllianceBernstein Holding L.P. 2.0% 2. Ritchie Bros. Auctioneers 1.5 3. Lincoln Electric Holdings 1.3 4. Sotheby's Holdings Cl. A 1.2 5. SEACOR Holdings 1.1 6. Plexus Corporation 1.0 7. Ash Grove Cement Cl. B 0.9 8. Forward Air 0.9 9. Newport Corporation 0.9 10. Brady Corporation Cl. A 0.8 Top Five Industries % of Net Assets 1. Technology 22% 2. Industrial Products 18 3. Industrial Services 14 4. Natural Resources 10 5. Financial Intermediaries 9 Recent Developments Royce Value Trust, Inc. (NYSE - RVT) paid a quarterly distribution of $0.43 per share on its Common Stock, on June 23, 2006 to stockholders of record at the close of business on June 6, 2006 (ex-dividend on June 2, 2006). The price of shares issued for reinvestment was $18.30. Royce Value Trust, Inc. paid a cash dividend of $0.36875 per share on its 5.90% Cumulative Preferred Stock, based on an annual rate of 5.90% of the initial liquidation preference of $25.00 per share, on June 23, 2006, to stockholders of record at the close of business on June 6, 2006 (ex-dividend June 2, 2006). Royce Value Trust is a closed-end diversified management investment company whose shares of Common (RVT) and 5.90% Cumulative Preferred Stock (RVTprb) are listed and traded on the New York Stock Exchange. Its primary investment goal is long-term capital growth, which it seeks by investing at least 75% of its assets in equity securities primarily of small- and micro-cap companies. Daily net asset values (NAVs) for Royce Value Trust are now available on our website and online through most ticker symbol lookup services and on broker terminals under the symbol XRVTX. For more information, please call The Royce Funds at (800) 221-4268 or visit our website at http://www.roycefunds.com/. DATASOURCE: Royce Value Trust, Inc. CONTACT: John D. Diederich, +1-212-355-7311 Web site: http://www.roycefunds.com/

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