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Notice of SEDAR Refilings

Royce Micro-Cap Trust (NYSE: RMT) as of April 30, 2010


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NEW YORK--([ BUSINESS WIRE ])--Royce Micro-Cap Trust (NYSE: RMT):

  • Only micro-cap closed-end fund
  • Average weekly trading volume of approximately 281,000 shares
  • Funda™s adviser has more than 35 years of small- and micro-cap investment experience

Closing Prices a" April 30, 2010

NAV

$10.29

MKT

$8.82

Total Return Performance

Periods ended April 30, 2010

NAV

MKT

1 Month* 6.96% 7.69%
Year to Date* 15.62 19.67
One-Year 63.07 52.86
Three-Year Average Annual -4.64 -10.26
Five-Year Average Annual 5.86 2.38
10-Year Average Annual 9.50 10.00
*Not annualized

Portfolio Diagnostics

Wtd Average Geometric Market Cap: $318 million
Wtd. Average P/E Ratio: 17.5x*
Wtd. Average P/B Ratio: 1.6x
Net Assets Attributable to Common Stock: $341 million
Net Leverage: 10.8%

*Excludes 21% of portfolio holdings with zero or negative earnings as of 4/30/10.

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. Kennedy Wilson Holdings 2.5%
2. Sapient Corp. 1.8
3. Seneca Foods Cl. B 1.5
4. SFN Group Inc. 1.3
5. Tennant Company 1.1
6. iGATE Corp. 1.1
7. Richardson Electronics 1.0
8. Deswell Industries 1.0
9. Pegasystems 0.9
10. Epoch Holding Corp. 0.9

Top Five Industries

% of Net Assets

1. Industrial Products 24%
2. Technology 19
3. Industrial Services 14
4. Natural Resources 11
5. Health 10

Recent Developments

Royce Micro-Cap Trust, Inc. has declared a cash dividend of $0.375 per share on its Cumulative Preferred Stock, based on an annual rate of 6.00% of the initial liquidation preference of $25.00 per share. The dividend is to be paid on June 23, 2010 to stockholders of record at the close of business on June 7, 2010 (ex-dividend on June 3, 2010).

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 Funda™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 [ www.roycefunds.com ]


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