EXHIBIT 99.CERT

                                  CERTIFICATION




                                 CERTIFICATIONS
                                 --------------

I, Charles M. Royce, certify that:

1. I have reviewed this amended report on Form N-CSR of Royce Value Trust,
Inc.;

2. Based on my knowledge, this amended report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this amended
report;

3. Based on my knowledge, the financial statements, and other financial
information included in this amended report, fairly present in all material
respects the financial condition, results of operations, changes in net assets,
and cash flows (if the financial statements are required to include a statement
of cash flows) of the registrant as of, and for, the periods presented in this
amended report.

Date: October 1, 2003



                        /s/ Charles M. Royce
                        Charles M. Royce
                        President



                                 CERTIFICATIONS
                                 --------------

I, John D. Diederich, certify that:

1. I have reviewed this amended report on Form N-CSR of Royce Value Trust,
Inc.;

2. Based on my knowledge, this amended report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this amended
report;

3. Based on my knowledge, the financial statements, and other financial
information included in this amended report, fairly present in all material
respects the financial condition, results of operations, changes in net assets,
and cash flows (if the financial statements are required to include a statement
of cash flows) of the registrant as of, and for, the periods presented in this
amended report.

Date: October 1, 2003



                        /s/ John D. Diederich
                         John D. Diederich
                         Chief Financial Officer