Value Line, Inc. Reports Earnings

Business Wire, July 30, 1999

NEW YORK--(BUSINESS WIRE)--July 30, 1999--

Value Line, Inc. (NASDAQ:VALU) reported record high revenues and operating income for the fiscal year ended April 30, 1999. Net earnings for the 12 months ending April 30, 1999 were $27,172,000 or $2.72 per share. Net income for the three-month period ending April 30, 1999 exceeded income for the same period a year ago by almost 18 percent.

In announcing these results, Jean Bernhard Buttner, Value Line's Chairman and Chief Executive Officer, said, "We are very pleased to report another year of record revenue and operating income and especially pleased that subscription revenues, which exceeded last year's, were the second highest in the Company's history. This was due primarily to an increase in revenue from subscriptions to The Value Line Investment Survey and related products.

"This last fiscal year has seen a focus on adopting our products to Internet distribution and we are very close to introducing a new Value Line website which will bring more information to subscribers and prospective subscribers in real time," Mrs. Buttner said.

Value Line is a leading New York-based investment publishing and investment management company. The Value Line Investment Survey is the nation's largest independent advisory service. In addition, the Company publishes other investment related periodicals, which are produced in both printed and electronic form. Value Line provides investment management services to the Value Line Family of 15 no-load mutual funds and to institutional and individual portfolios through its asset management division.

                           Value Line, Inc.
              Consolidated Summary of Financial Results
             (in thousands except for per share amounts)

                          For the three months  For the twelve months
                             ended April 30,        ended April 30,
                            1999        1998       1999       1998
                         --------    --------   --------   --------

Revenues                 $ 24,233    $ 23,200   $ 95,818   $ 93,615

Operating Income           11,058       8,034     39,436     39,360

Income from
 Securities Transactions     (199)      1,835      5,193     18,272

Income Before Taxes        10,859       9,869     44,629     57,632

Net Earnings                7,048       5,977     27,172     35,177

Earnings Per Share       $   0.70    $   0.60   $   2.72   $   3.53