Royce Focus Trust (NASDAQ: FUND) as of November 30, 2010

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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 35 years of small- and micro-cap investment experience

NEW YORK--(BUSINESS WIRE)-- Royce Focus Trust (NASDAQ: FUND):

Closing Prices – November 30, 2010

NAV		$8.08
MKT		$7.10

Total Return Performance

Periods ended November 30, 2010	NAV		MKT

1 Month*	4.26	%	6.23	%
Year to Date*	12.85		12.11
One-Year	19.17		21.31
Three-Year Average Annual	0.30		-6.90
Five-Year Average Annual	5.78		3.18
Ten-Year Average Annual	11.98		12.11

*Not Annualized

Portfolio Diagnostics

Wtd. Average Geometric Market Cap		$2998 million
Wtd. Average P/E Ratio:		15.0x*
Wtd. Average P/B Ratio:		2.0x
Net Assets Applicable to Common Stock:		$185 million
Net Leverage:		3.3%

*The Funds’ P/E ratio calculations exclude 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. Berkshire-Hathaway, Inc.		4.0%
2. Graftech International		3.1
3. Mosaic Company (The)		3.0
4. Western Digital		2.9
5. Buckle (The)		2.9
6. Franklin Resources		2.9
7. Seabridge Gold		2.7
8. Schnitzer Steel Industries Cl. A		2.7
9. Pan American Silver		2.6
10. Reliance Steel Aluminum		2.5


Top Five Industries		% of Net Assets
1. Natural Resources		30%
2. Industrial Products		20
3. Technology		14
4. Financial Services		12
5. Consumer Products		11

Recent Developments

Royce Focus Trust, Inc. has declared a cash dividend of $0.375 per share on its Cumulative Preferred Stock, based on an annual rate of 6.00% of the initial liquidation preference of $25.00 per share. The dividend is to be paid on December 23, 2010 to stockholders of record at the close of business on December 6, 2010 (ex-dividend December 2, 2010).

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 at 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 www.roycefunds.com.