Royce Focus Trust Announces Performance Data &
Portfolio Composition as of January 31, 2008
Royce & Associates, Inc.


New York, February 14, 2008 -- Royce Focus Trust (FUND)

-- Invests in a limited number of small-cap companies using a value approach
-- Average weekly trading volume of approximately 194,000 shares
-- Fund's adviser has more than 30 years of small- and micro-cap investment experience

Closing Prices - January 31, 2008
NAV  $ 8.83
MKT  $ 8.31


Total Return Performance 

Periods ended January 31, 2008	NAV	MKT
1 Month*	-6.61%	-7.36%
Year to Date	-6.61	-7.36
One-Year	1.97	-5.62
Three-Year Average Annual	12.49	9.65
Five-Year Average Annual	23.10	25.93
10-Year Average Annual	12.62	14.35

*Not Annualized


Portfolio Diagnostics

Wtd. Average Market Cap:	$1,239 million
Wtd. Average P/E Ratio:	11.4x*
Wtd. Average P/B Ratio:	2.2x
Wtd. Average Portfolio Yield:	3.9%
Net Assets Attributable to Common Stock:	$180 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. Australia 7.50% Bond due 9/15/09	5.9%
2. Unit Corporation	3.9
3. Metal Management	3.6
4. Rep. Of South Africa Gov't Bond due 2/28/09	3.5
5. Thor Industries	3.4
6. Silver Standard Resources Inc.	3.4
7. Knight Capital Group, Inc.	3.3
8. Reliance Steel & Aluminum	3.2
9. Pan American Silver Corp.	2.8
10. Lincoln Electric Holdings	2.8

Top Five Industries	% of Net Assets
1. Natural Resources	27%
2. Industrial Products	22
3. Consumer Products	13
4. Industrial Services	9
5. Technology	7

 
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 Value Trust are now available on the Fund's website and online through most ticker symbol lookup services and on broker terminals under the symbol XFUNX.



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