Royce Micro-Cap Trust (NYSE: RMT) as of November 30, 2012

  Royce Micro-Cap Trust (NYSE: RMT) as of November 30, 2012

  *Only micro-cap closed-end fund
  *Average weekly trading volume of approximately 281,000 shares
  *Fund’s adviser has more than 35 years of small- and micro-cap investment

Business Wire

NEW YORK -- December 14, 2012

Royce Micro-Cap Trust (NYSE: RMT):

Closing Prices November 30, 2012
NAV              $     10.51
MKT              $     9.13

Total Return Performance                 
Periods ended November 30, 2012   NAV       MKT
1 Month*                          -0.10 %   0.22  %
Year to Date*                     11.14     8.54
One-Year                          11.41     14.94
Three-Year Average Annual         12.14     14.11
Five-Year Average Annual          1.34      0.54
10-Year Average Annual            9.32      8.90
*Not annualized

Portfolio Diagnostics                  
Wtd Average Geometric Market Cap:        $327million
Wtd. Average P/E Ratio:                  15.4x*
Wtd. Average P/B Ratio:                  1.4x
Net Assets Applicable to Common Stock:   $304 million
Net Leverage:                            11     .0%

*Excludes 21% of portfolio holdings with zero or negative earnings as of

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          2.0%
2.    Epoch Holding Corp.              1.7
3.    Integrated Electrical Services   1.7
4.    Seneca Foods Cl. B               1.3
5.    Virtus Investment Partner        1.3
6.    Quaker Chemical Corp.            1.3
7.    Advisory Board (The)             1.2
8.    Sapient Corp.                    1.2
9.    Trex Company                     1.2
10.   Computer Task Group              1.2
Top Five Sectors                       % of Net Assets
1.    Industrials                      29%
2.    Information Technology           24
3.    Financials                       20
4.    Consumer Discretionary           12
5.    Materials                        9

Recent Developments

Royce Micro-Cap Trust, Inc. (NYSE: RMT) has declared a distribution of $0.13
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 24, 2012 to stockholders of record at the
close of business on December 6, 2012 (ex-dividend on December 4, 2012). The
price of shares issued for reinvestment on December 13, 2012 was $9.09.

Royce Micro-Cap Trust, Inc. is a closed-end diversified investment company
whose shares of Common Stock (RMT) are listed and traded on the New York Stock
Exchange. The Fund’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


Royce Micro-Cap Trust, Inc.
John D. Diederich, 212-355-7311
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