Common Stock Distribution of $0.50 Per Share
Royce Funds
New York, November 22, 2006 -- Royce Value Trust, Inc. (NYSE - RVT) has declared a distribution of $0.50 per share on its Common Stock. The distribution, optionally payable in additional shares of Common Stock, or in cash by specific stockholder election, is to be paid on December 26, 2006 to stockholders of record at the close of business on December 6, 2006 (ex-dividend on December 4, 2006). The price of shares issued for reinvestment will be determined on December 13, 2006.
The Fund has a policy of paying quarterly distributions on its Common Stock. Distributions are being made at the annual rate of 9% of the rolling average of the prior four calendar quarter-end NAVs, with the fourth quarter distribution being the greater of 2.25% of the rolling average or the minimum distribution required by IRS regulations.
Total distributions to Common Stockholders declared in 2006 were $1.78 per share. For Federal income tax purposes, approximately 87% of the 2006 distributions will be taxable at long-term capital gains rates (including qualified dividend income) and 13% will be reported as net short-term capital gains.
Royce Value Trust, Inc. is a closed-end diversified management investment company whose shares of Common and Preferred Stock are listed and traded on the New York Stock Exchange. Its primary investment goal is long-term capital growth, which it seeks by normally investing at least 75% of its assets in the equity securities of small- and micro-cap companies.
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