Royce Value Trust, Inc. (the “Fund”) [NYSE – RVT] filed a proxy statement seeking stockholder approval to allow the Fund to contribute approximately $100 million of its cash and/or securities to a newly formed closed-end investment company, Royce Global Value Trust, Inc. (“Royce Global Value Trust”). All of Royce Global Value Trust’s common shares would then be distributed to the common stockholders of the Fund (the “spin-off”). The aggregate net asset value of a stockholder’s remaining Value Trust common stock and Global Trust common stock received in the spin-off, together with any cash received in lieu of fractional shares, will equal the aggregate net asset value of their Value Trust shares owned immediately prior to the spin-off. RVT stockholders are also being asked to approve a change to an investment restriction to facilitate completion of the spin-off. The transaction is expected to be voted upon at a Special Meeting of the Fund’s common stockholders on September 5, 2013. The amount of capital contributed to Royce Global Value Trust, the number of shares of Royce Global Value Trust to be distributed in the spin-off, and the record and distribution dates will be announced at a later time. The distribution will be made only by means of a prospectus and this release does not constitute an offer of any securities for sale. Royce Value Trust, Inc. is a closed-end diversified management investment company whose shares of common stock are listed and traded on the New York Stock Exchange. The Fund’s primary investment goal is long-term capital growth, which it seeks by normally investing at least 65% of its assets in equity securities primarily of small- and micro-cap companies. An investor in the Fund or Royce Global Value Trust should consider the fund’s investment goals, risks, fees, and expenses carefully before investing. For more information on The Royce Funds℠, please visit our website, www.roycefunds.com. An investor should carefully consider each Fund’s investment objective, risks, charges, and expenses before investing or sending money. This and other important information about the Funds can be found in the prospectus. To obtain a prospectus, please call Investor Services at 1-800-221-4268 or visit www.roycefunds.com . Please read the prospectus carefully before investing.