485BPOS

As filed with the Securities and Exchange Commission on May 1 , 201 3

File No. 2-10827
File No. 811-02265

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933	x
Pre-Effective Amendment No.	o
Post-Effective Amendment No. 103	x
and/or
REGISTRATION STATEMENT UNDER THE
INVESTMENT COMPANY ACT OF 1940	x
Amendment No. 103	x

The Value Line Fund, Inc.

(Exact Name of Registrant as Specified in Charter)

7 Times Square, 21st floor,

New York, New York 10036-6524

(Address of Principal Executive Offices) (Zip Code)

Registrant’s Telephone Number, Including Area Code: (212) 907-1900

Mitchell Appel

The Value Line Fund, Inc.

7 Times Square, 21st floor,

New York, New York 10036-6524

(Name and Address of Agent for Service)

Copy to:

Peter D. Lowenstein, Esq.

496 Valley Road

Cos Cob, CT 06807

It is proposed that this filing will become effective (check appropriate box)
x	immediately upon filing pursuant to paragraph (b)
o	on (date) pursuant to paragraph (b)
o	60 days after filing pursuant to paragraph (a)(1)
o	75 days after filing pursuant to paragraph (a)(2)
o	on (date) pursuant to paragraph (a)(1)
o	on (date) pursuant to paragraph (a)(2) of Rule 485

SIGNATURES

          Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this Amendment to its Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, and State of New York, on the 1st day of May , 201 3 .

THE VALUE LINE FUND, INC.
By:	/s/ Mitchell E. Appel
	Mitchell E. Appel, President and Chief Executive Officer

          Pursuant to the requirements of the Securities Act of 1933, this Amendment has been signed below by the following persons in the capacities and on the dates indicated.

Signatures	Title	Date
*Joyce E. Heinzerling	Director	May 1 , 201 3
(Joyce E. Heinzerling)
*Francis C. Oakley	Director	May 1 , 201 3
(Francis C. Oakley)
*David H. Porter	Director	May 1 , 201 3
(David H. Porter)
*Paul Craig Roberts	Director	May 1 , 201 3
(Paul Craig Roberts)
*Nancy-Beth Sheerr	Director	May 1 , 201 3
(Nancy-Beth Sheerr)
*Daniel S. Vandivort	Director	May 1 , 201 3
(Daniel S. Vandivort)
/s/ Mitchell E. Appel	Director, President and Chief Executive Officer (Principal Executive Officer)	May 1 , 201 3
(Mitchell E. Appel)
/s/ Emily D. Washington	Treasurer; Principal Financial and Accounting Officer; Secretary	May 1 , 201 3
(Emily D. Washington)

*By:	/s/ Mitchell E. Appel
	(Mitchell E. Appel, Attorney-In-Fact)

* Pursuant to Power of Attorney filed as an exhibit to Post-Effective Amendment No. 98, and incorporated herein by reference.

EXHIBIT INDEX

Exhibit No.	Exhibit
EX-101.INS	XBRL INSTANCE DOCUMENT
EX-101.SCH	XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT
EX-101.CAL	XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
EX-101.DEF	XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
EX-101.LAB	XBRL TAXONOMY EXTENSION LABELS LINKBASE
EX-101.PRE	XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE

XML

Label

Element

Value

Risk/Return:

rr_RiskReturnAbstract

Document Type

dei_DocumentType

485BPOS

Document Period End Date

dei_DocumentPeriodEndDate

Dec. 31, 2012

Registrant Name

dei_EntityRegistrantName

VALUE LINE FUND INC

Central Index Key

dei_EntityCentralIndexKey

0000102756

Amendment Flag

dei_AmendmentFlag

false

Document Creation Date

dei_DocumentCreationDate

May 01, 2013

Document Effective Date

dei_DocumentEffectiveDate

May 01, 2013

Prospectus Date

rr_ProspectusDate

May 01, 2013

VALUE LINE FUND INC

Risk/Return:

rr_RiskReturnAbstract

Risk/Return [Heading]

rr_RiskReturnHeading

The Value Line Fund, Inc.

Objective [Heading]

rr_ObjectiveHeading

Investment objectives

Objective, Primary [Text Block]

rr_ObjectivePrimaryTextBlock

The Fund’s primary investment objective is long-term growth of capital.

Objective, Secondary [Text Block]

rr_ObjectiveSecondaryTextBlock

Current income is a secondary investment objective.

Expense [Heading]

rr_ExpenseHeading

Fees and expenses

Expense Narrative [Text Block]

rr_ExpenseNarrativeTextBlock

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. There are no shareholder fees (fees paid directly from your investment).

Operating Expenses Caption [Text]

rr_OperatingExpensesCaption

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Portfolio Turnover [Heading]

rr_PortfolioTurnoverHeading

Portfolio turnover

Portfolio Turnover [Text Block]

rr_PortfolioTurnoverTextBlock

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year the Fund’s portfolio turnover rate was 6% of the average value of its portfolio.

Portfolio Turnover, Rate

rr_PortfolioTurnoverRate

6.00%

Expense Example [Heading]

rr_ExpenseExampleHeading

Example

Expense Example Narrative [Text Block]

rr_ExpenseExampleNarrativeTextBlock

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated whether or not you redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same except in year one. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Strategy [Heading]

rr_StrategyHeading

Principal investment strategies of the Fund

Strategy Narrative [Text Block]

rr_StrategyNarrativeTextBlock

To achieve the Fund’s investment objectives, EULAV Asset Management (the “Adviser”) invests substantially all of the Fund’s net assets in common stocks. While the Fund is actively managed by the Adviser, the Adviser relies primarily on the rankings of companies by the Value Line Timeliness™ Ranking System (the “Ranking System”) in selecting securities for purchase or sale. The Ranking System is a proprietary quantitative system that compares an estimate of the probable market performance of each stock within a universe during the next six to twelve months to that of all stocks within that universe and ranks stocks on a scale of 1 (highest) to 5 (lowest). The universe followed by the Ranking System consists of stocks of approximately 1,700 companies accounting for approximately 95% of the market capitalization of all stocks traded on the U.S. securities exchanges. All the stocks followed by the Ranking System are listed on U.S. stock exchanges or traded in the U.S. over-the-counter markets. The Fund’s investments principally are selected from common stocks ranked 1, 2 or 3 by the Ranking System at the time of purchase. Apart from the diversification requirements of the Investment Company Act of 1940 (the “1940 Act”) applicable to diversified funds (which generally means that it will not invest more than 5% of its total assets in the stocks of any one company), the Fund is not subject to any limit on the percentage of its assets that may be invested in any particular stock. Because the Adviser relies on the Ranking System in managing the Fund’s portfolio, the Fund is not limited to investments according to a company’s size.

The Adviser may sell securities for a variety of reasons, such as to secure gains, limit losses or redeploy assets into more promising opportunities.

As described above, the Adviser relies primarily on the rankings of companies by the Ranking System in selecting stocks for the Fund, but has discretion, including whether and which ranked stocks to include within the Fund’s portfolio, whether and when to buy or sell stocks based upon changes in their rankings, and the frequency and timing of rebalancing the Fund’s portfolio. The Adviser will determine the percentage of the Fund’s assets invested in each stock based on the stock’s relative attractiveness.

Strategy Portfolio Concentration [Text]

rr_StrategyPortfolioConcentration

To achieve the Fund’s investment objectives, EULAV Asset Management (the “Adviser”) invests substantially all of the Fund’s net assets in common stocks. While the Fund is actively managed by the Adviser, the Adviser relies primarily on the rankings of companies by the Value Line Timeliness™ Ranking System (the “Ranking System”) in selecting securities for purchase or sale. The Ranking System is a proprietary quantitative system that compares an estimate of the probable market performance of each stock within a universe during the next six to twelve months to that of all stocks within that universe and ranks stocks on a scale of 1 (highest) to 5 (lowest). The universe followed by the Ranking System consists of stocks of approximately 1,700 companies accounting for approximately 95% of the market capitalization of all stocks traded on the U.S. securities exchanges. All the stocks followed by the Ranking System are listed on U.S. stock exchanges or traded in the U.S. over-the-counter markets. The Fund’s investments principally are selected from common stocks ranked 1, 2 or 3 by the Ranking System at the time of purchase.

Risk [Heading]

rr_RiskHeading

Principal risks of investing in the Fund

Risk Narrative [Text Block]

rr_RiskNarrativeTextBlock

Investing in any mutual fund involves risk, including the risk that you may receive little or no return on your investment, and that you may lose part or all of your investment. Therefore, before you invest in this Fund you should carefully evaluate the risks.

The chief risk that you assume when investing in the Fund is market risk, which is the possibility that the securities in a certain market will decline in value because of factors such as economic conditions. Market risk may affect a single issuer, an industry, a sector of the economy or the market as a whole.

Because the Fund is actively managed, its investment return depends on the ability of the Adviser to manage its portfolio successfully. The Adviser’s investment strategies may not be able to produce the desired results.

The Fund’s annual portfolio turnover rate has exceeded 100% in two of the last five years. A rate of portfolio turnover of 100% would occur if all of the Fund’s portfolio were replaced in a period of one year. To the extent the Fund engages in short-term trading in attempting to achieve its investment objective, it will increase the Fund’s portfolio turnover rate and the Fund will incur higher brokerage commissions and other expenses.

An investment in the Fund is not a complete investment program and you should consider it just one part of your total investment program. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. For a more complete discussion of risk, please turn to page 10.

Because the Fund uses the Ranking System, there is the risk that securities not covered by the Ranking System or lower rated securities will appreciate to a greater extent than those securities in the Fund’s portfolio.

The price of Fund shares will increase and decrease according to changes in the value of the Fund’s investments. The Fund will be affected by changes in stock prices, which have historically tended to fluctuate more than bond prices.

Risk Lose Money [Text]

rr_RiskLoseMoney

Investing in any mutual fund involves risk, including the risk that you may receive little or no return on your investment, and that you may lose part or all of your investment.

Risk Not Insured Depository Institution [Text]

rr_RiskNotInsuredDepositoryInstitution

An investment in the Fund is not a complete investment program and you should consider it just one part of your total investment program. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency.

Bar Chart and Performance Table [Heading]

rr_BarChartAndPerformanceTableHeading

Fund performance

Performance Narrative [Text Block]

rr_PerformanceNarrativeTextBlock

This bar chart and table can help you evaluate the potential risks of investing in the Fund. The bar chart below shows how returns for the Fund’s shares have varied over the past ten calendar years, and the table below shows the average annual total returns (before and after taxes) of these shares for one, five, and ten years. These returns are compared to the performance of the S&P 500® Index, which is a broad based market index. The Fund’s past performance (before and after taxes) is not necessarily an indication of how it will perform in the future. Updated performance information is available at: www.vlfunds.com.

Performance Information Illustrates Variability of Returns [Text]

rr_PerformanceInformationIllustratesVariabilityOfReturns

This bar chart and table can help you evaluate the potential risks of investing in the Fund. The bar chart below shows how returns for the Fund’s shares have varied over the past ten calendar years, and the table below shows the average annual total returns (before and after taxes) of these shares for one, five, and ten years.

Performance Availability Website Address [Text]

rr_PerformanceAvailabilityWebSiteAddress

www.vlfunds.com

Performance Past Does Not Indicate Future [Text]

rr_PerformancePastDoesNotIndicateFuture

The Fund’s past performance (before and after taxes) is not necessarily an indication of how it will perform in the future.

Bar Chart [Heading]

rr_BarChartHeading

Total returns (before taxes) as of 12/31 each year (%)

Bar Chart Closing [Text Block]

rr_BarChartClosingTextBlock

Best Quarter:	Q4 2004	+13.28
Worst Quarter:	Q4 2008	–27.78

After-tax returns in the table below are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.

Highest Quarterly Return, Label

rr_HighestQuarterlyReturnLabel

Best Quarter:

Highest Quarterly Return, Date

rr_BarChartHighestQuarterlyReturnDate

Dec. 31, 2004

Highest Quarterly Return

rr_BarChartHighestQuarterlyReturn

13.28%

Lowest Quarterly Return, Label

rr_LowestQuarterlyReturnLabel

Worst Quarter:

Lowest Quarterly Return, Date

rr_BarChartLowestQuarterlyReturnDate

Dec. 31, 2008

Lowest Quarterly Return

rr_BarChartLowestQuarterlyReturn

(27.78%)

Performance Table Heading

rr_PerformanceTableHeading

Average Annual Total Returns for the Periods Ended December 31, 2012

Performance Table Uses Highest Federal Rate

rr_PerformanceTableUsesHighestFederalRate

After-tax returns in the table below are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.

Performance Table Not Relevant to Tax Deferred

rr_PerformanceTableNotRelevantToTaxDeferred

Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.

VALUE LINE FUND INC | C000020635 VALUE LINE FUND INC

Risk/Return:

rr_RiskReturnAbstract

Trading Symbol

dei_TradingSymbol

VLIFX

Management Fees

rr_ManagementFeesOverAssets

0.69%

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

0.25%

Other Expenses

rr_OtherExpensesOverAssets

0.34%

Total Annual Fund Operating Expenses

rr_ExpensesOverAssets

1.28%

Less: 12b-1 Fee Waiver

rr_FeeWaiverOrReimbursementOverAssets

(0.25%)

^[1]

Net Expenses

rr_NetExpensesOverAssets

1.03%

1 year

rr_ExpenseExampleYear01

105

3 years

rr_ExpenseExampleYear03

381

5 years

rr_ExpenseExampleYear05

678

10 years

rr_ExpenseExampleYear10

1,523

2003

rr_AnnualReturn2003

16.28%

2004

rr_AnnualReturn2004

12.09%

2005

rr_AnnualReturn2005

10.40%

2006

rr_AnnualReturn2006

4.00%

2007

rr_AnnualReturn2007

19.50%

2008

rr_AnnualReturn2008

(49.28%)

2009

rr_AnnualReturn2009

9.49%

2010

rr_AnnualReturn2010

25.55%

2011

rr_AnnualReturn2011

5.75%

2012

rr_AnnualReturn2012

14.60%

Label

rr_AverageAnnualReturnLabel

Return before taxes

1 year

rr_AverageAnnualReturnYear01

14.60%

5 years

rr_AverageAnnualReturnYear05

(3.31%)

10 years

rr_AverageAnnualReturnYear10

4.21%

VALUE LINE FUND INC | After Taxes on Distributions | C000020635 VALUE LINE FUND INC

Risk/Return:

rr_RiskReturnAbstract

Label

rr_AverageAnnualReturnLabel

Return after taxes on distributions

1 year

rr_AverageAnnualReturnYear01

14.60%

5 years

rr_AverageAnnualReturnYear05

(3.51%)

10 years

rr_AverageAnnualReturnYear10

2.65%

VALUE LINE FUND INC | After Taxes on Distributions and Sales | C000020635 VALUE LINE FUND INC

Risk/Return:

rr_RiskReturnAbstract

Label

rr_AverageAnnualReturnLabel

Return after taxes on distributions and sale of Fund shares

1 year

rr_AverageAnnualReturnYear01

9.49%

5 years

rr_AverageAnnualReturnYear05

(2.89%)

10 years

rr_AverageAnnualReturnYear10

3.07%

VALUE LINE FUND INC | S&P 500® Index

Risk/Return:

rr_RiskReturnAbstract

Index No Deduction for Fees, Expenses, Taxes [Text]

rr_IndexNoDeductionForFeesExpensesTaxes

(reflects no deduction for fees, expenses or taxes)

Label

rr_AverageAnnualReturnLabel

S&P 500® Index (reflects no deduction for fees, expenses or taxes)

1 year

rr_AverageAnnualReturnYear01

16.00%

5 years

rr_AverageAnnualReturnYear05

1.66%

10 years

rr_AverageAnnualReturnYear10

7.10%

[1] Effective May 1, 2013 through June 30, 2014, EULAV Securities LLC (the "Distributor") has contractually agreed to waive all of the Fund's 12b-1 fee in an amount equal to 0.25% of the Fund's average daily net assets. There is no assurance that the Distributor will extend the fee waiver beyond June 30, 2014. The waiver cannot be modified or terminated before June 30, 2014 without the approval of the Fund's Board of Directors.

XML

VALUE LINE FUND INC

The Value Line Fund, Inc.

Investment objectives

The Fund’s primary investment objective is long-term growth of capital.

Current income is a secondary investment objective.

Fees and expenses

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. There are no shareholder fees (fees paid directly from your investment).

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses		VALUE LINE FUND INC C000020635 VALUE LINE FUND INC
Management Fees		0.69%
Distribution and Service (12b-1) Fees		0.25%
Other Expenses		0.34%
Total Annual Fund Operating Expenses		1.28%
Less: 12b-1 Fee Waiver	[1]	(0.25%)
Net Expenses		1.03%

Example

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated whether or not you redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same except in year one. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Expense Example (USD $)	1 year	3 years	5 years	10 years
VALUE LINE FUND INC C000020635 VALUE LINE FUND INC	105	381	678	1,523

Portfolio turnover

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year the Fund’s portfolio turnover rate was 6% of the average value of its portfolio.

Principal investment strategies of the Fund

To achieve the Fund’s investment objectives, EULAV Asset Management (the “Adviser”) invests substantially all of the Fund’s net assets in common stocks. While the Fund is actively managed by the Adviser, the Adviser relies primarily on the rankings of companies by the Value Line Timeliness™ Ranking System (the “Ranking System”) in selecting securities for purchase or sale. The Ranking System is a proprietary quantitative system that compares an estimate of the probable market performance of each stock within a universe during the next six to twelve months to that of all stocks within that universe and ranks stocks on a scale of 1 (highest) to 5 (lowest). The universe followed by the Ranking System consists of stocks of approximately 1,700 companies accounting for approximately 95% of the market capitalization of all stocks traded on the U.S. securities exchanges. All the stocks followed by the Ranking System are listed on U.S. stock exchanges or traded in the U.S. over-the-counter markets. The Fund’s investments principally are selected from common stocks ranked 1, 2 or 3 by the Ranking System at the time of purchase. Apart from the diversification requirements of the Investment Company Act of 1940 (the “1940 Act”) applicable to diversified funds (which generally means that it will not invest more than 5% of its total assets in the stocks of any one company), the Fund is not subject to any limit on the percentage of its assets that may be invested in any particular stock. Because the Adviser relies on the Ranking System in managing the Fund’s portfolio, the Fund is not limited to investments according to a company’s size.

The Adviser may sell securities for a variety of reasons, such as to secure gains, limit losses or redeploy assets into more promising opportunities.

As described above, the Adviser relies primarily on the rankings of companies by the Ranking System in selecting stocks for the Fund, but has discretion, including whether and which ranked stocks to include within the Fund’s portfolio, whether and when to buy or sell stocks based upon changes in their rankings, and the frequency and timing of rebalancing the Fund’s portfolio. The Adviser will determine the percentage of the Fund’s assets invested in each stock based on the stock’s relative attractiveness.

Principal risks of investing in the Fund

Investing in any mutual fund involves risk, including the risk that you may receive little or no return on your investment, and that you may lose part or all of your investment. Therefore, before you invest in this Fund you should carefully evaluate the risks.

The chief risk that you assume when investing in the Fund is market risk, which is the possibility that the securities in a certain market will decline in value because of factors such as economic conditions. Market risk may affect a single issuer, an industry, a sector of the economy or the market as a whole.

Because the Fund is actively managed, its investment return depends on the ability of the Adviser to manage its portfolio successfully. The Adviser’s investment strategies may not be able to produce the desired results.

The Fund’s annual portfolio turnover rate has exceeded 100% in two of the last five years. A rate of portfolio turnover of 100% would occur if all of the Fund’s portfolio were replaced in a period of one year. To the extent the Fund engages in short-term trading in attempting to achieve its investment objective, it will increase the Fund’s portfolio turnover rate and the Fund will incur higher brokerage commissions and other expenses.

An investment in the Fund is not a complete investment program and you should consider it just one part of your total investment program. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. For a more complete discussion of risk, please turn to page 10.

Because the Fund uses the Ranking System, there is the risk that securities not covered by the Ranking System or lower rated securities will appreciate to a greater extent than those securities in the Fund’s portfolio.

The price of Fund shares will increase and decrease according to changes in the value of the Fund’s investments. The Fund will be affected by changes in stock prices, which have historically tended to fluctuate more than bond prices.

Fund performance

This bar chart and table can help you evaluate the potential risks of investing in the Fund. The bar chart below shows how returns for the Fund’s shares have varied over the past ten calendar years, and the table below shows the average annual total returns (before and after taxes) of these shares for one, five, and ten years. These returns are compared to the performance of the S&P 500® Index, which is a broad based market index. The Fund’s past performance (before and after taxes) is not necessarily an indication of how it will perform in the future. Updated performance information is available at: www.vlfunds.com.

Total returns (before taxes) as of 12/31 each year (%)

Best Quarter:	Q4 2004	+13.28
Worst Quarter:	Q4 2008	–27.78

After-tax returns in the table below are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.

Average Annual Total Returns for the Periods Ended December 31, 2012

Average Annual Total Returns VALUE LINE FUND INC

Label

1 year

5 years

10 years

C000020635 VALUE LINE FUND INC

Return before taxes

14.60%

(3.31%)

4.21%

C000020635 VALUE LINE FUND INC Return after taxes on distributions

Return after taxes on distributions

14.60%

(3.51%)

2.65%

C000020635 VALUE LINE FUND INC Return after taxes on distributions and sale of Fund shares

Return after taxes on distributions and sale of Fund shares

9.49%

(2.89%)

3.07%

S&P 500® Index

S&P 500® Index (reflects no deduction for fees, expenses or taxes)

16.00%

1.66%

7.10%

[1] Effective May 1, 2013 through June 30, 2014, EULAV Securities LLC (the "Distributor") has contractually agreed to waive all of the Fund's 12b-1 fee in an amount equal to 0.25% of the Fund's average daily net assets. There is no assurance that the Distributor will extend the fee waiver beyond June 30, 2014. The waiver cannot be modified or terminated before June 30, 2014 without the approval of the Fund's Board of Directors.