Letterhead of Royce & Associates, LLC]Royce Capital Fund • April 30th, 2014
Company FiledApril 30th, 2014Reference is made to the Investment Advisory Agreement dated October 1, 2001 (the “Agreement”) by and between Royce Capital Fund (the “Fund”) on behalf of Royce Capital Fund – Micro-Cap Portfolio (the “Series”) and Royce & Associates, LLC (the “Adviser”).