2014 Estimated Capital Gains

November 25, 2014

Dear Shareholders,

Below are the projected year-end capital gains distributions that you may incur as a result of investments in the Value Line Family of Funds. Based upon the number of shares outstanding at November 24, 2014 and the realized capital gains through the valuation date, October 31, 2014, the Funds listed below project the following year-end capital gains distributions. These are estimates and these amounts may change as a result of developments during the remainder of the year.

Fund Short Term
Capital Gain*
Long Term
Capital Gain*
Total
Per Share*
Ex. Date Pay Date
Value Line Fund 12/19 12/19
Larger Companies Fund $3.369 $3.369 12/19 12/19
Asset Allocation Fund $0.474 $0.474 12/19 12/19
Income and Growth Fund $0.009 $1.342 $1.351 12/19 12/19
Premier Growth Fund $0.046 $2.371 $2.417 12/19 12/19
Small Cap Opportunities Fund $2.986 $2.986 12/19 12/19
Core Bond Fund 12/19 12/19
*

Estimated capital gain, annual income, and calendar year-end distributions are estimates as of the 10/31/14 share price. Keep in mind that market conditions, portfolio changes, and/or changes in outstanding fund shares could substantially affect these estimates. In addition, there is a possibility that funds not listed above could pay a capital gain distribution, annual income distribution, or calendar year-end distribution, or that funds listed could pay a second distribution. This information is NOT FINAL and is subject to change until the ex-dividend date.

2014 Quarterly Distribution

Fund Ex. Date Pay Date Ordinary
Income
Short Term Long Term Total
Per Share
Income and Growth Fund 9/26 9/26 $0.02412 $0.02412
  6/27 6/27 $0.03902 $0.03902
  3/28 3/28 $0.03275 $0.03275

2014 Monthly Distribution

Fund Ex. Date Pay Date Ordinary
Income
Short Term Long Term Total
Per Share
VL Core Bond - VAGIX 10/31 10/31 $0.02251 $0.02251
  9/30 9/30 $0.00837 $0.00837
  8/29 8/29 $0.00695 $0.00695
  7/31 7/31 $0.00813 $0.00813
  6/30 6/30 $0.00879 $0.00879
  5/29 5/29 $0.00555 $0.00555
  4/30 4/30 $0.00610 $0.00610

2013 Year End Federal & State Tax Information

Tax Filings/Forms

If you have any questions please call 800.243.2729.

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