ROYCE VALUE TRUST, INC.
1414 Avenue of the Americas
New York, N.Y. 10019
(212) 355-7311
December 22, 1997
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Dear Sirs:
I am writing to notify you, pursuant to Rule 23c-2 under the Investment
Company Act of 1940, as amended, that Royce Value Trust, Inc., a closed-end
registered investment company, (the "Fund") intends to redeem all of its
outstanding 5 3/4% Investment Company Convertible Notes due June 30, 2004, on
February 5, 1998 (the "Notes"). The redemption will be conducted in accordance
with both Article 3 of the Indenture dated as of June 15, 1994, as amended
between the Fund and United States Trust Company of New York, as Trustee, and
paragraph 6(i) of the Notes. Should you have any questions please call the
undersigned at (212) 508-4578.
Very truly yours,
/s/ John E. Denneen
John E. Denneen
Secretary
