Royce Micro-Cap Trust (NYSE:RMT) as of November 30, 2006

NEW YORK--(BUSINESS WIRE)--

Royce Micro-Cap Trust (NYSE:RMT) as of November 30, 2006:

• Only micro-cap closed-end fund
• Average weekly trading volume of approximately 184,000 shares
• Fund’s adviser has more than 30 years of small- and micro-cap investment experience

Closing Prices - November 30, 2006

NAV     $ 15.12
MKT     $ 16.50

Total Return Performance
Periods ended November 30, 2006              NAV          MKT

1 Month (a)                                 2.86%         9.93%
Year to Date (a)                            20.50        21.29
One-Year                                    20.72        22.40
Three-Year Average Annual                   16.24        19.83
Five-Year Average Annual                    17.07        22.46
10-Average Annual                           14.82        17.75

(a) Not annualized

Portfolio Diagnostics

Wtd Average Market Cap:                     $400 million
Wtd. Average P/E Ratio:                     18.1x (b)
Wtd. Average P/B Ratio:                     1.8x
Wtd. Average Yield:                         0.6%
Net Assets Attributable to Common Stock:    $326 million
Net Leverage:                               7%

(b) Excludes 17% of portfolio holdings with zero or negative earnings
as of 11/30/06.

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. ASA Bermuda                                  1.4%
2. Seneca Foods Cl. B                           1.3
3. Highbury Financial                           1.3
4. Convansys Corporation                        1.1
5. International Assets Holding                 1.1
6. First Consulting Group                       1.0
7. PAREXEL International                        1.0
8. Aceto Corporation                            1.0
9. Transaction Systems Architects Cl. A         1.0
10. Pegasystems                                 0.9

Top Five Industries                        % of Net Assets

1. Technology                                   25%
2. Health                                       17
3. Industrial Products                          15
4. Industrial Services                          13
5. Financial Intermediaries                     10

Recent Development

Royce Micro-Cap Trust, Inc. (NYSE:RMT) has declared a distribution of $0.60 per share on its Common Stock. The distribution, optionally payable in additional shares of Common Stock, or in cash by specific stockholder election, is to be paid on December 26, 2006 to stockholders of record at the close of business on December 6, 2006 (ex-dividend on December 4, 2006). The price of shares issued for reinvestment on was $14.87.

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 December 26, 2006 to stockholders of record at the close of business on December 6, 2006 (ex-dividend December 4, 2006).

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