New York, June 14, 2005  -- Mr. Charles M. Royce, President of Royce Focus Trust, Inc. (FUND) announced today that the Fund had completed its rights offering which expired on June 10, 2005. The Fund will issue 2,627,397 shares of its Common Stock to subscribers at the exercise price of $8.34, $0.25 below the closing price on Nasdaq on June 13, 2005. The 2,627,397 shares represent full issuance of the initial offer plus an additional 20% in order to honor over-subscriptions.

Royce Focus Trust, Inc. is a closed-end diversified management investment company whose shares of Common Stock are listed and traded on the Nasdaq National Market (FUND) and whose shares of Preferred Stock are listed and traded on the New York Stock Exchange (RFO.pra). The Fund's investment goal is long-term capital growth, which it seeks by normally investing at least 65% of its assets in equity securities.