Royce Mid-Cap Returns -6.8% in 2011

Royce Mid-Cap Fund (RMM) seeks long-term growth of capital by using a disciplined value approach to invest in the equity securities of mid-cap companies with market capitalizations between $2.5 billion and $15 billion. We believe that investors in the Fund should have a long-term investment horizon of at least three years. A portfolio management team consisting of Whitney George, Carl Brown, Brendan Hartman and James
Stoeffel manages the Fund