Royce & Associates, LLC letterhead]Royce Capital Fund • August 24th, 2011
Company FiledAugust 24th, 2011Reference 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").