Archived Material: Important Performance Information

Archived material may contain dated performance, risk and other information; please view returns as of the most recent quarter end and month end. Due to changing circumstances over time, statements made in archived material may or may not have continued applicability or relevance in today's environment. Any thoughts concerning market movements and future prospects for small-company stocks are solely those of Royce & Associates, LLC, and, of course, there can be no assurance with regard to future market movements. Small- and micro-cap stocks may involve considerably more risk than larger-cap stocks.

All performance information reflects past performance, is presented on a total return basis and reflects reinvestment of distributions. Current performance may be higher or lower than performance quoted. Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares may be worth more or less than their original cost when redeemed. Please read the fund's prospectus carefully and consider a fund's investment goals, risks, fees and expenses before investing or sending money. The prospectus contains this and other information. The Russell 2000, Russell 2000 Value, Russell 2000 Growth, S&P 500, S&P 600, NASDAQ Composite and DJIA are unmanaged indexes of domestic common stocks. Distributor: Royce Fund Services, Inc.

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    1. News & Commentary
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      Financial Professional & Media Contact
      • Joanne NewgardJoanne Newgard
        Director of Client Services & Media Relations


        Contact (800) 562-0880 or joanne@roycefunds.com

    2. Making Headlines

      Preferred Shares of Royce Value Trust, Royce Micro-Cap Trust Cited by Seeking Alpha

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      Seeking Alpha recently published an article entitled "Preferred Shares of These 4 CEFs for a Conservative Outlook" by Tim McPartland (4/27/11). McPartland details the conservative structure of safety offered by preferred shares offered by closed-end funds over common, and spotlights four preferreds, including two that are managed by Royce & Associates, LLC: Royce Value Trust [NYSE: RVT] and Royce Micro-Cap Trust [NYSE: RMT].

      Royce Micro-Cap Trust's Portfolio Manager is Chuck Royce. Chris Flynn and James Harvey serve as Assistant Portfolio Managers. Royce Micro-Cap Trust is a closed-end fund that invests primarily in companies with market capitalizations less than $500 million. Due to this sector's size and limited research coverage, there is more opportunity to find pricing inefficiencies. Therefore, the Manager believes that the potential for higher returns, commensurate with a higher level of risk, is greater than for any other sector of the domestic equity marketplace.

      Chuck Royce is also the Portfolio Manager of Royce Value Trust, with Chris Flynn, Lauren Romeo, and David Nadel as Assistant Portfolio Managers. Royce Value Trust is a closed-end small-cap fund with more than 20 years of performance history. The Fund seeks long-term capital appreciation by investing primarily in small- and micro-cap companies using a disciplined value approach.

      go Read the full article at SeekingAlpha.com.

      Important Disclosure Information

      Royce Micro-Cap Trust normally invests in micro-cap companies, which may involve considerably more risk than investing in larger-cap companies. The Russell 2000 is an unmanaged, capitalization-weighted index of domestic small-cap stocks. It measures the performance of the 2,000 smallest publicly traded U.S. companies in the Russell 3000 index.

      Royce Value Trust invests primarily in securities of small-cap and micro-cap companies, which may involve considerably more risk than investing in larger-cap companies. From time to time, the Fund may invest a significant portion of its net assets in foreign securities, which may involve political, economic, currency and other risks not encountered in U.S. investments. The Russell 2000 is an unmanaged, capitalization-weighted index of domestic small-cap stocks. It measures the performance of the 2,000 smallest publicly traded U.S. companies in the Russell 3000 index.

       

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  • © Royce & Associates, LLC, 745 Fifth Avenue, New York, NY 10151, (800) 221-4268. All rights reserved. Distributor of The Royce Fund and Royce Capital Fund: Royce Fund Services, Inc., a wholly owned subsidiary of Royce & Associates. The Royce Funds are offered and sold only to persons residing in the United States and are offered by prospectus only. The prospectuses include investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing. View our Policies & Procedures, including, among others, our Sarbanes-Oxley Code of Ethics, Privacy Policy and Proxy Voting Guidelines and Procedures.