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 (800) 221-4268 or visit our website at http://www.roycefunds.com/ DATASOURCE: Royce Micro-Cap Trust CONTACT: John D. Diederich, +1-212-355-7311, for Royce Micro-Cap Trust Web site: http://www.roycefunds.com/

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