Royce Value Trust (NYSE: RVT) as of January 31, 2006

NEW YORK, Feb. 9  /PRNewswire-FirstCall/ -- 

  - Oldest and largest small-cap closed-end fund
  - Average weekly trading volume of approximately 289,000 shares
  - Fund's adviser has more than 30 years of small- and micro-cap investment
    experience

  Closing Prices - January 30, 2006

  NAV  $20.54
  MKT  $20.73

  Total Return Performance
  Periods ended January 31, 2006               NAV            MKT

  1 Month*                                    8.85%          3.24%
  Year to Date*                               8.85           3.24
  One-Year                                   22.26          15.80
  Three-Year Average Annual                  27.76          28.02
  Five-Year Average Annual                   12.86          15.17
  10-Year Average Annual                     14.67          15.70

  * Not Annualized

  Portfolio Diagnostics

  Median Market Cap:                        $1,279 million
  Wtd. Average P/E Ratio:                     21.5x*
  Wtd. Average P/B Ratio:                      2.4x
  Wtd. Average Yield:                          0.8%
  Net Assets Attributable to Common Stock:  $1,032 million
  Net Leverage:                                  5%

  * The Fund's P/E ratio calculation excludes companies with zero or
    negative earnings.



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.   Alliance Capital Mgmt. Holdings            1.9%
    2.   Ritchie Bros. Auctioneers Inc.             1.2
    3.   SEACOR Holdings                            1.0
    4.   Newport Corporation                        1.0
    5.   Sotheby's Holdings Cl. A                   0.9
    6.   Carbo Ceramics                             0.9
    7.   Simpson Manufacturing                      0.9
    8.   Plexus Corporation                         0.8
    9.   Cimarex Energy                             0.8
   10.   Brady Corporation Cl. A.                   0.8

  Portfolio Sectors                          % of Net Assets
    1.  Technology                                   23%
    2.  Industrial Products                          18
    3.  Industrial Services                          14
    4.  Natural Resources                            11
    5.  Financial Services                            9

  Recent Developments


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 [phone] or visit our website at http://www.roycefunds.com/. 

DATASOURCE: Royce Value Trust



CONTACT:  John D. Diederich, [phone], for Royce Value Trust 



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

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