NEW YORK, May 14, 2012 (BUSINESS WIRE) -- --Average weekly trading volume of approximately 341,000 shares

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

Royce Value Trust RVT -1.31% :

        
        Closing Prices - April 30, 2012
        ------------------------------
        NAV             $15.74
        MKT             $13.74
        

        
        Total Return Performance
        ----------------------------
        Periods ended April 30, 2012
                                         NAV     MKT
                                       ------   ------
        Month*                         -1.25%   -1.08%
        Year to Date*                   12.50    13.49
        One-Year                        -9.21    -7.90
        Three-Year Average Annual       22.45    20.42
        Five-Year Average Annual         0.47    -2.73
        10-Year Average Annual           6.19     5.19
        *Not Annualized
        

        
        Portfolio Diagnostics
        --------------------------------------
        Wtd. Average Geometric Mkt. Cap:        $1460 million
        Wtd. Average P/E Ratio:                 15.4*
        Wtd. Average P/B Ratio:                 1.7x
        Net Assets Applicable to Common Stock:  $1300 million
        Net Leverage:                           13.0 %
        

        *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. Coherent                                 0.9 %
        2. Carter's      0.9
        3. Oil States International                 0.9
        4. Nordson Corp.                            0.9
        5. HEICO                                    0.8
        6. Advisory Board (The)                     0.8
        7. Lincoln Electric Holdings                0.8
        8. Mohawk Industries                        0.8
        9. Cognex Corp.                             0.7
        10. Alleghany Corp.                         0.7
        Top Five Sectors                        % of Net Assets
        --------------------------------------  --------------
        1. Industrials                               28 %
        2. Information Technology                    22
        3. Financials                                22
        4. Consumer Discretionary                    14
        5. Materials                                 11
        

Recent Developments

The Board of Directors of Royce Value Trust, Inc. has approved, subject to stockholder and other regulatory approvals, the contribution of approximately $100 million of RVT's assets to a newly formed non-diversified, closed-end investment company, Royce Global Value Trust, Inc. ("RGT"). All of RGT's common stock would then be distributed to the common stockholders of RVT. There is no assurance that necessary stockholder and regulatory approvals will be obtained.

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 65% of its assets in equity securities primarily of small- and micro-cap companies.