The Royce Funds Win Seven Lipper Awards

2008-04-24 21:48:18 -

www.roycefunds.com - Lipper, a Reuters Company, announced that five portfolios managed by Royce & Associates LLC, have been awarded the 2007 Lipper Performance Achievement Award--ranked as the number one performing fund in its Lipper Classification for the periods listed below ended 12/31/07. The Lipper Fund Awards program highlights funds that have excelled in delivering consistently strong risk-adjusted performance, relative to

their peers.

Royce Opportunity Fund (Investment Class, RYPNX) #1 for the 10-Year Period: Lipper Equity Fund Performance Analysis Service/Small-Cap Value Funds. This Fund ranked # 69 of 232 Funds, #7 of 179 Funds, and #1 of 78 Funds in the category for the one-, five-, and 10-year periods respectively. Performance cited is for Royce Opportunity Fund's Investment Class shares. Shares of the Fund's Service, Consultant and R Classes bear an annual distribution expense that is not borne by the Investment Class.

Royce Value Plus Fund (Service Class, RYVPX) #1 for the 5-Year Period: Lipper Equity Fund Performance Analysis Service/Small-Cap Core Funds category. This Fund ranked #188 of 776 Funds, and #1 of 482 Funds in the category for the one-, and five-year periods respectively. Performance cited is for Royce Value Plus Fund's Service Class shares. Shares of the Fund's Consultant and R Classes bear an annual distribution expense that is higher than that of the Service Class.

Royce Focus Trust, Inc. (NASDAQ: FUND) #1 for the 1-Year, 5-Year, and 10-Year Periods: Lipper Closed-End Equity Fund Performance Analysis Service/Value Funds. This Fund ranked # 1 of 13 funds, #1 of 6 Funds, and #1 of 6 Funds in the category for the one-, five-, and 10-year periods respectively.

Royce Micro-Cap Trust, Inc. (NYSE: RMT) #1 for the 5-Year Period: Lipper Closed-End Equity Fund Performance Analysis Service/Core Funds. This Fund ranked # 19 of 26 Funds, #1 of 14 Funds, and #2 of 13 Funds in the category for the one-, five-, and 10-year periods respectively.

Royce Capital Fund--Micro-Cap Portfolio (Investment Class, RCMCX) #1 for the 10-Year Period: Lipper Variable Insurance Product Performance Analysis Service/Small-Cap Core Funds category. This Fund ranked #16 of 131 Funds, #7 of 92 Funds, and #1 of 30 Funds in the category for the one-, five-, and 10-year periods respectively. Performance cited is for the Fund's Investment Class shares. Shares of the Fund's Service Class bear an annual distribution expense that is not borne by the Investment Class.

About Royce & Associates

Royce & Associates, LLC, is one of the industry's most experienced and highly respected smaller-company value investment managers. The Royce Funds includes 22 open-end mutual funds, three closed-end funds and two open-end mutual funds offered to variable annuity and variable life insurance companies. We pay close attention to risk and maintaining our discipline, regardless of market movements and trends. Smaller company investing is our only business. The firm, a registered investment adviser based in New York City, was founded in 1972 by Charles M. Royce, one of the pioneers of small-cap investing, and has been a wholly owned, independent subsidiary of Legg Mason, Inc. since October 1, 2001. The firm has approximately $27 billion in open- and closed-end fund assets under managements as of 3/31/08.

For more information about The Royce Funds, visit 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 Royce Funds can be found in the Fund's prospectus. To obtain a prospectus, please call (800) 221-4268 or visit www.roycefunds.com. Please read the prospectus carefully before investing. The Funds invest primarily in the securities of small- and micro-cap companies that may involve considerably more risk than investments in securities of larger-cap companies (see "Primary Risks for Fund Investors" in the Prospectus). Past performance is no guarantee of future results. Distributor of The Royce Fund and Royce Capital Fund: Royce Fund Services, Inc.

The Royce Funds
Joanne Newgard, 800-562-0880