NEW YORK, Feb 9 /PRNewswire-FirstCall/ -- - Invests in a limited number of small-cap companies using a value approach - Average weekly trading volume of approximately 165,000 shares - Fund's adviser has more than 30 years of small- and micro-cap investment experience Closing Prices - January 31, 2006 NAV $10.60 MKT $10.37 Total Return Performance Periods ended January 31, 2006 NAV MKT 1 Month* 8.61% 8.81% Year to Date* 8.61 8.81 One-Year 27.11 15.20 Three-Year Average Annual 36.05 40.39 Five-Year Average Annual 17.34 20.15 From Inception (11/1/96**) Average Annual 15.01 17.09 * Not Annualized ** Royce and Associates, LLC assumed investment management responsibilities for the Fund on 11/1/96. Portfolio Diagnostics Median Market Cap $1,591 million Wtd. Average P/E Ratio: 18.3x* Wtd. Average P/B Ratio: 3.2x Wtd. Average Yield: 1.3% Net Assets Attributable to Common Stock: $143 million Net Leverage: 0% * The Fund's P/E ratio calculation excludes 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. New Zealand Government 6.5% Bond 4.4% 2. Athena Neurosciences Finance 7.25% Bond 3.8 3. IPSCO 3.5 4. Canadian Government Bond 3% 3.4 5. Simpson Manufacturing 3.0 6. Thor Industries 2.8 7. Metal Management 2.7 8. Endo Pharmaceuticals Holding 2.6 9. Ensign Energy Services 2.6 10. Trican Well Service 2.6 Portfolio Sectors % of Net Assets 1. Industrial Products 23% 2. Natural Resources 20 3. Technology 11 4. Health 8 5. Consumer Product 6 Recent Developments 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/. First Call Analyst: FCMN Contact: DATASOURCE: Royce Focus Trust CONTACT: John D. Diederich, +1-212-355-7311, for Royce Focus Trust Web site: http://www.roycefunds.com/

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