Royce Focus Trust (NASDAQ: FUND) as of June 30, 2014

NEW YORK--(BUSINESS WIRE)--

Royce Focus Trust FUND:

Closing Prices – June 30, 2014

NAV					$	9.55
MKT					$	8.55

Total Return Performance
Periods ended June 30, 2014		NAV				MKT
1 Month*		5.04	%			7.21	%
Year to Date*		12.74				14.97
One-Year		31.56				29.09
Three-Year Average Annual		9.08				9.57
Five-Year Average Annual		16.50				15.11
Ten-Year Average Annual		9.59				9.58
*Not Annualized

Portfolio Diagnostics
Wtd. Average Geometric Market Cap		$6634million
Wtd. Average P/E Ratio:		18.1x*
Wtd. Average P/B Ratio:		2.4x*
Net Assets:		$214million

*The Funds' P/E ratio calculations exclude companies with zero or negative earnings.

Portfolio Composition
Top 10 Positions		% of Net Assets
1. Western Digital Corp.		4.5%
2. Myriad Genetics		4.4
3. Apple		3.7
4. Franklin Resources		3.5
5. Berkshire Hathaway Cl. B		3.0
6. SanDisk Corp.		2.9
7. Cirrus Logic		2.9
8. Exxon Mobil		2.8
9. Thor Industries		2.8
10. Kennedy-Wilson Holdings		2.6
Top Five Sectors		% of Net Assets
1. Materials		21%
2. Information Technology		18
3. Financials		17
4. Energy		13
5. Consumer Discretionary		8

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). The Fund's investment goal is long-term capital growth, which it seeks by normally investing at least 65% 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 www.roycefunds.com.