NEW YORK, April 25 /PRNewswire-FirstCall/ -- - Invests in a limited number of small-cap companies using a value approach - Average weekly trading volume of approximately 201,000 shares - Fund's adviser has more than 30 years of small- and micro-cap investment experience Closing Prices - March 31, 2006 NAV $10.96 MKT $11.15 Total Return Performance Periods ended March 31, 2006 NAV MKT 1 Month* 6.81% 4.53% Year to Date* 13.60 18.36 One-Year 35.62 27.38 Three-Year Average Annual 40.44 46.38 Five-Year Average Annual 21.73 26.22 From Inception (11/1/96**) Average Annual 15.28 17.82 *Not Annualized **Royce and Associates, LLC assumed investment management responsibilities for the Fund on 11/1/96. Portfolio Diagnostics Median Market Cap $1,618 million Wtd. Average P/E Ratio: 16.0x* Wtd. Average P/B Ratio: 3.2x Wtd. Average Yield: 0.9% Net Assets Attributable to Common Stock: $100 million Net Leverage: 0% *The Funds' P/E ratio calculations exclude companies with zero or negative earnings. 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. IPSCO 3.9% 2. Athena Neurosciences Finance 7.25% Bond 3.6 3. Thor Industries 3.3 4. Canadian Government 3% Bond 3.2 5. Simpson Manufacturing 3.2 6. Endo Pharmaceuticals Holdings 3.0 7. Metal Management 2.9 8. Reliance Steel & Aluminum 2.9 9. Schnitzer Steel Industries Cl. A 2.6 10. Lincoln Electric Holdings 2.5 Top Five Industries % of Net Assets 1. Industrial Products 23% 2. Natural Resources 21 3. Health 9 4. Technology 8 5. Consumer Products 6 Recent Developments Royce Focus Trust, Inc. (Nasdaq - FUND) paid a quarterly distribution of $0.12 per share on its Common Stock, on March 23, 2006 to stockholders of record at the close of business on March 6, 2006 (ex-dividend on March 2, 2006). The price of shares issued for reinvestment was $10.35. Royce Focus Trust, Inc. paid 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, on March 23, 2006 to stockholders of record at the close of business on March 6, 2006 (ex-dividend March 2, 2006). Royce Focus Trust, Inc. is a closed-end diversified management investment company whose shares of Common Stock are listed and traded on the Nasdaq National Market (Nasdaq - FUND) and whose shares of 6.00% Cumulative Preferred Stock are listed and traded on the NYSE (RFO.pra). The Fund's investment goal is long-term capital growth, which it seeks by normally investing as least 75% of its assets in equity securities. Daily net asset values (NAVs) for Royce Focus Trust are now available on our website and online through most ticker symbol lookup services and on broker terminals under the symbol XFUNX. For more information, please call The Royce Funds at (800) 221-4268 or visit our website at http://www.roycefunds.com/. DATASOURCE: Royce Focus Trust, Inc. CONTACT: John D. Diederich, +1-212-355-7311 Web site: http://www.roycefunds.com/

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