Value Line Funds Combines its Money Market Fund into Reich & Tang Portfolio

 Value Line Funds Combines its Money Market Fund into Reich & Tang Portfolio

PR Newswire

NEW YORK, Oct. 24, 2012

NEW YORK, Oct. 24, 2012 /PRNewswire/ --Value Line Funds announced that it
has combined the Value Line U.S. Government Money Market Fund (VLCXX) into
the Reich & Tang Daily Income Fund – U.S . Government Portfolio, effective
close of business on October 19, 2012.

"We selected Reich & Tang as a partner for our money market fund shareholders
due to its historic conservative investment philosophy and unwavering
commitment to the highest standards in liquidity and preservation of capital
for money market funds," said Mitchell Appel, president of Value Line Funds.

Reich & Tang is one of the longest-running money market mutual fund advisers
in the world, having served investors' cash investment needs for nearly forty

"We are pleased to have completed an agreement with Value Line Funds that
accomplishes its primary goal of adding shareholder value," said Michael
Lydon, chief executive officer of Reich & Tang. "Having access to the money
fund management expertise of Reich & Tang while preserving the brand integrity
of Value Line is an ideal solution that extends the promise of providing
shareholders with more choice and flexibility with their cash investments."

The move provides Value Line Funds' shareholders the opportunity to own an
institutional class money market fund that has substantially identical
investment objectives and strategies as the Value Line money market fund.
Shareholders will benefit from Reich & Tang's lower gross expense ratio and a
larger pool of assets.

"This is a win-win for our shareholders. Our retail shareholders now have
access to an institutional money market product not previously available
directly to them. They also benefit by continuing to receive the same
shareholder servicing performed for the Value Line Funds," said Appel. "As a
result, the Value Line Funds' investment adviser can focus more resources on
managing our equity and hybrid funds, many of which are rated 4 and 5 stars
overall by Morningstar and are leaders in their categories."

Earlier this year, the Value Line Asset Allocation Fund (VLAAX), with a long
history of outperformance, was added to the Schwab Mutual Fund OneSource
Select List®. The Fund is one of only seven asset allocation mutual funds
among the 23 third-party mutual funds selected for the Additional Fund
Categories section and one of only two aggressive allocation funds. All of the
Value Line Funds are available for purchase both directly and through the
major brokerage house platforms and financial advisors.

Average Annual Total Returns as of September 30, 2012
                                        1 year    3 year   5 year    10 year
Value Line Asset Allocation Fund        21.78%    12.94%   2.83%     7.87%
Lipper Mixed Asset Target Allocation    19.29%    8.76%    1.17%     6.91%
Growth Category**
Rank: Lipper Mixed Asset Target         95 of 564 7 of 531 73 of 478 50 of 259
Allocation Growth Category
Percentile rank in Lipper Category      17        2        16        20

Expense ratio – gross / net*: 1.34% / 1.24% as of fiscal year-end

The performance data quoted herein represents past performance and does not
guarantee future results. Market volatility can dramatically impact the fund's
short term performance. Current performance may be lower or higher than
figures shown. The investment return and principal value will fluctuate so
that an investor's shares, when redeemed may be worth more or less than their
original cost. Past performance data through the most recent month end is
available at or by calling 1-800-243-2729.

**Lipper Mixed-Asset Target Allocation Growth Funds are funds that, by
portfolio practice, maintain a mix of between 60%-80% equity securities, with
the remainder invested in bonds, cash, and cash equivalents.

"We are committed to helping our shareholders meet a wide range of long-term
investment goals," said Appel. "Our no load mutual funds cover a broad range
of investment objectives. Across all our growth-oriented funds, we strive to
deliver above average returns with below average exposure to risk." In
addition to the portfolio manager's independent research and evaluation, the
Value Line Funds have access to Value Line's exclusive Timeliness™ ^ ranking
system, which includes more than 70 researchers, security analysts and
statisticians employed by Value Line Publishing.

About Value Line Funds

In 1950, Value Line started its first mutual fund. Since then, knowledgeable
investors have been relying on the Value Line Funds to help them build their
financial futures. Over the years, Value Line Funds has evolved into what we
are today — a diversified family of mutual funds with a wide range of
investment objectives, available directly to you or through your brokerage
firm or financial advisor.

Our family of mutual funds is designed to help you meet your investment goals
and includes a variety of equity, fixed income, or hybrid funds for your
portfolio. It's never too early or too late to build a diversified investment

For more information about Value Line Funds, please call your financial
advisor or contact the Value Line Funds at 800-243-2729. Visit
http://www.vlfunds.comfor information on how to open an account, learn more
about any of our funds and view past performance.

You should carefully consider investment objectives, risks, charges and
expenses of Value Line Mutual Funds before investing. This and other
information can be found in the funds' prospectus or summary prospectus, which
can be obtained free of charge from your investment representative or by
calling 800.243.2729. Please read it carefully before you invest or send

The average annual returns shown above are historical and reflect changes in
share price, reinvested dividends and are net of expenses. Investment results
and the principal value of an investment will vary. Performance figures
reflect changes in net asset values with reinvested distributions as of

Lipper Rankings represent the funds' ranking within its Lipper asset class
peer group and are based on total return performance and do not reflect the
effect of sales charges. Lipper fund data for all time periods shown is as of
September 30, 2012. Although a fund may outperform peers when compared to
Lipper peer groups, the returns for that time period may still be negative.
Rankings shown include management fees and are provided by Lipper Inc., a
leading independent performance analysis service. This information is provided
for educational purposes only and should not be considered investment advice.
Lipper ratings are not intended to predict future results, and Lipper does not
guarantee the accuracy of this information. Past performance is no guarantee
of future results. Copyright 2012, Reuters, All Rights Reserved.

*For the period August 1, 2012 through July 31, 2013, EULAV Securities LLC
(the "Distributor") contractually agreed to waive a portion of the Fund's Rule
12b-1 fee in an amount equal to 0.10% of the Fund's average daily net assets.
The waiver cannot be terminated before July 31, 2013 without the approval of
the Fund's Board of Directors. For various periods, the Distributor similarly
waived a portion of the Fund's Rule 12b-1 fee. The Fund's performance would
be lower in the absence of such waivers.

A money market mutual fund investment is not insured or guaranteed by the
Federal Deposit Insurance Corporation or any other government agency. Although
a money market mutual fund seeks to preserve the value of your investment at
$1 per share, it is possible to lose money by investing in such a fund.

Value Line, Value Line Logo, Timeliness, Safety are trademarks or registered
trademarks of Value Line Inc. and/or its affiliates in the United States and
other countries. Used by permission.

Value Line Mutual Funds are distributed by EULAV Securities LLC.

NOT FDIC-INSURED | May Lose Value | No Bank Guarantee

SOURCE Value Line Funds

Contact: ? Anthony Massucci, SunStar Strategic, +1-?212-572-6286,
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