The Board of Directors Royce Value Trust, Inc. has approved the redemption of all of the Fund’s outstanding 5.90% Cumulative Preferred Stock on November 15, 2012. A senior secured credit facility provided by a financial institution will be used to redeem and replace a portion of the outstanding Preferred Shares.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. 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.