U.S. Securities and Exchange Commission
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24F-2
1. Name and Address of Issuer: Aegis Value Fund, Inc.
2. The name of class of securities for which this Form is filed:
Common Stock
3. Investment Company Act File Number: 811-9174
Securities Act File Number: 333-49241
4. Last day of fiscal year for which this Form is filed: August 31, 1998
5. Calculation of registration fee:
(i) Aggregate sales price of securities sold during the fiscal year
pursuant to section 24(f): $960,902
(ii) Aggregate price of securities redeemed or repurchased
during the fiscal year: $0
(iii) Aggregate price of securities redeemed or repurchased during any
prior fiscal year ending no earlier than October 11, 1995 that were
not previously used to reduce registration fees payable to the
Commission: N/A
(iv) Total available redemption credits: $0
(v) Net sales-if Item 5(i) is greater than Item 5(iv): $960,902
(vi) Redemption credits available for use in future years: $0
(vii) Multiplier for determining registration fee: x.000278
(viii) Registration fee due (5(v) multiplied by 5(vii)): =$267.13
6. Prepaid Shares: N/A
7. Interest due--if this Form is being filed more than 90 days
after the end of the issuer's fiscal year: N/A
8. Total amount of registration fee due plus any interest due: $267.13
9. Date the registration fee was sent to the Commission's
lockbox depository: November 25, 1998
Method of Delivery: /x/ Wire Transfer
/ / Mail or other means
SIGNATURES
This report has been signed below by the following person on behalf of the
issuer and in the capacities and on the dates indicated.
By (Signature and Title) /s/ William S. Berno
____________________
William S. Berno
President
Dated: November 24, 1998
