Royce Micro-Cap Trust (NYSE: RMT) as of January 31, 2005

Royce Micro-Cap Trust (NYSE: RMT) as of January 31, 2005 


NEW YORK, Feb. 18  /PRNewswire-FirstCall/ -- 

  -- Only micro-cap closed-end fund
  -- Average weekly trading volume of approximately 441,000 shares
  -- Fund's adviser has more than 30 years of small- and micro-cap
     investment experience

  Closing Prices - January 31, 2005

   NAV  $ 14.05
   MKT  $ 14.25

  Total Return Performance
  Periods ended January 31, 2005            NAV             MKT

  1 Month*                                -2.02%          -6.50%
  One-Year                                10.72           16.89
  Three-Year Average Annual               14.62           20.28
  5-Year Average Annual                   16.22           20.01
  10-Average Annual                       15.44           16.95

   *Not annualized

  Portfolio Diagnostics

  Median Market Cap:                        $274 million
  Wtd. Average P/E Ratio:                   11.6x*
  Wtd. Average P/B Ratio:                   1.8x
  Wtd. Average Yield:                       1.2%
  Net Assets Attributable to Common Stock:  $283 million
  Net Leverage:                             3%

   *Excludes 23% of portfolio holdings with zero or negative earnings as of
    1/31/05.



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.   Stein Mart                               1.5%
    2.   Delta Apparel                            1.4
    3.   Sapient Corporation                      1.4
    4.   HomeFed Corp.                            1.3
    5.   Juno Lighting                            1.3
    6    Seneca Foods Cl. B                       1.1
    7.   Covansys Corporation                     1.1
    8.   PICO Holdings                            1.1
    9.   ASA Bermuda                              1.1
   10.   Transaction Systems Architects Cl. A     1.0

  Top Five Industries                      % of Net Assets
    1.  Technology                                 28%
    2.  Industrial Products                        15
    3.  Industrial Services                        15
    4.  Health                                     13
    5.  Natural Resources                          12

  Recent Developments


Royce Micro-Cap Trust, Inc. is a closed-end diversified investment company
whose shares of Common Stock (RMT) and 6.00% Cumulative Preferred Stock
(RMTpra.) are listed and traded on the New York Stock Exchange. The Fund's
investment goal is long-term capital growth, which it seeks by investing
primarily in equity securities of companies that, at the time of investment,
have market capitalization of $500 million or less.

Daily net asset values (NAVs) for Royce Micro-Cap Trust, Inc. are now available
on our website and online through most ticker symbol lookup services and on
broker terminals under the symbol XOTCX. For more information, please call The
Royce Funds at [phone] or visit our website at
http://www.roycefunds.com/ 

DATASOURCE: Royce Micro-Cap Trust



CONTACT:  John D. Diederich, [phone], for Royce Micro-Cap Trust



Web site:  http://www.roycefunds.com/

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