NEW YORK, May 14, 2012 (BUSINESS WIRE) -- --Average weekly trading volume of approximately 281,000 shares

--Fund's adviser has more than 35 years of small- and micro-cap investment experience

Royce Micro-Cap Trust RMT -0.11% as of April 30, 2012

Closing Prices -- April 30, 2012

        NAV   $ 10.73
        MKT   $ 9.42
        

        Total Return Performance
        ----------------------------
        Periods ended April 30, 2012     NAV       MKT
                                       ------    -----
        1 Month*                       -0.92%     0.11%
        Year to Date*                   10.34     8.91
        One-Year                        -5.24     -2.76
        Three-Year Average Annual       22.67     21.02
        Five-Year Average Annual        -0.37     -3.47
        10-Year Average Annual          6.68      6.12
        *Not annualized
        

Portfolio Diagnostics

        Wtd Average Geometric Market Cap:        $ 328 million
        Wtd. Average P/E Ratio:                    16.1x*
        Wtd. Average P/B Ratio:                    1.4x
        Net Assets Applicable to Common Stock:   $ 366 million
        Net Leverage:                              5.0%
        

*Excludes 21% of portfolio holdings with zero or negative earnings as of 4/30/12.

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. Kennedy-Wilson Holdings                                1.8%
        2. Epoch Holding Corp.                                     1.5
        3. Integrated Electrical Services                          1.4
        4. America's Car-Mart           1.2
        5. Sapient Corp.                                           1.1
        6. Tennant Co.                                             1.1
        7. Advisory Board (The)                                    1.0
        8. Raven Industries                                        1.0
        9. Charming Shoppes                                        0.9
        10. Flexsteel Industries                                   0.9
        Top Five Sectors                                     % of Net Assets
        ------------------------------------------------    ---------------
         1. Industrials                                            27%
         2. Information Technology                                 21
         3. Financials                                             21
         4. Consumer Discretionary                                 13
         5. Materials                                               9
        

Recent Developments

Royce Micro-Cap Trust, Inc. is a closed-end diversified investment company whose shares of Common Stock (RMT) and 6.00% Cumulative Preferred Stock (RMTpra) are listed and traded on the New York Stock Exchange. The Fund's investment goal is long-term capital growth, which it seeks by investing primarily in equity securities of companies that, at the time of investment, have market capitalization of $500 million or less.