On May 19, 2009, the Board of Directors of Royce Value Trust suspended the Fund's 9% quarterly distribution policy for Common Stockholders in light of current market conditions and other factors. The Fund intends the suspension to continue until such time as it can again regularly distribute net realized gains, which should occur after it has utilized the Fund's capital loss carryforwards. Until such time, the Fund will distribute any net investment income on an annual basis in December.

Royce Value Trust, Inc. has declared a cash dividend of $0.36875 per share on its Cumulative Preferred Stock, based on an annual rate of 5.90% of the initial liquidation preference of $25.00 per share. The dividend is to be paid on June 23, 2009 to stockholders of record at the close of business on June 8, 2009 (ex-dividend on June 4, 2009).

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 www.roycefunds.com.



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