Value Line, Inc. Announces Second Quarter Earnings

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| Source: Value Line, Inc.

NEW YORK, Dec. 15, 2006 (PRIME NEWSWIRE) -- Value Line, Inc. (Nasdaq:VALU) reported results for its second fiscal quarter ended October 31, 2006. Net income for the six months ended October 31, 2006 of $12,180,000 or $1.22 per share was $1,147,000 or 10% above net income of $11,033,000 or $1.11 per share for the corresponding period in fiscal year 2006. Net income for the second quarter ended October 31, 2006 of $5,909,000 or $0.59 per share was $524,000 or 10% above net income of $5,385,000 or $0.54 per share in fiscal year 2006. Operating income of $18,930,000 for the six months ended October 31, 2006 was $1,297,000 or 8% above operating income of $17,633,000 last fiscal year. Operating income of $9,061,000 for the three months ended October 31, 2006 was 7% above operating income of $8,470,000 for the comparable period last fiscal year. The Company's income from securities transactions of $1,238,000 for the first six months of fiscal 2007 was 74% above last year's first half. Income from securities transactions of $645,000 for the second quarter of fiscal 2007 was 51% above income of $428,000 for the second quarter last year. Total assets of $117,817,000 at October 31, 2006 were up 14% over total assets of $103,670,000 at October 31, 2005. Shareholders' equity of $67,919,000 at October 31, 2006 was 29% higher than shareholders' equity of $52,493,000 at October 31, 2005.

Value Line, Inc. is a leading New York-based publishing and investment management company. Value Line believes The Value Line Investment Survey is one of the nation's largest independent investment publications. Value Line also produces and publishes other proprietary investment periodicals in both print and electronic formats. The Company also licenses some proprietary information, and provides investment management services to the Value Line family of no-load mutual funds and institutional and individual portfolios through its asset management division. For a detailed description of products and services, please visit www.valueline.com.

From time to time, the Company's Parent has purchased additional shares of Value Line, Inc. in the open market when and as the Parent has determined it to be appropriate. As stated several times in the past, the public is reminded that the Parent may make additional purchases from time to time in the future.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This report may contain statements (including certain projections and business trends) accompanied by such phrases as "believe," "estimate," "expect," "anticipate," "will," "intend" and other similar or negative expressions, that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to demand for and market acceptance of new and existing products; renewals of subscriptions for the Company's products; fluctuations in the Company's assets under management due to broadly based changes in the values of equity and debt securities, redemptions by investors and other factors; competitive product and pricing pressures; the impact of government regulation on the Company's business and the uncertainties of litigation and regulatory initiatives and inquiries; and other risks and uncertainties, including but not limited to the risks described in Item 1A, "Risk Factors" of the Company's Annual report on form 10-K for year ended April 30, 2006, and other risks and uncertainties from time to time.

Any forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.



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

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                             For the three months   For the six months
                                ended October 31,    ended October 31,
                               2006         2005     2006        2005
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 Revenues                     $20,745    $21,002    $42,136    $41,876
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 Operating income             $ 9,061    $ 8,470    $18,930    $17,633
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 Income from
  securities
  transactions, net           $   645    $   428    $ 1,238    $   713
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 Income before income 
  taxes                       $ 9,706    $ 8,898    $20,168    $18,346
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 Net income                   $ 5,909    $ 5,385    $12,180    $11,033
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 Earnings per share,
  basic and fully
  diluted                     $  0.59    $  0.54    $  1.22    $  1.11
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Value Line, Inc.
David T. Henigson, Vice President
(212) 907-1500