EXHIBIT (m)

                           The Value Line Fund, Inc.
                    Value Line Income and Growth Fund, Inc.
                  The Value Line Special Situations Fund, Inc.
                  Value Line Leveraged Growth Investors, Inc.
                         The Value Line Cash Fund, Inc.
                Value Line U.S. Government Securities Fund, Inc.
                      The Value Line Tax Exempt Fund, Inc.
                       Value Line Convertible Fund, Inc.
                       Value Line Aggressive Income Trust
                      Value Line New York Tax Exempt Trust

                   Service and Distribution Plan (the "Plan")


     The Plan is adopted as of this 16 day of March, 2000, by the Board of
Directors or Trustees of each Fund listed above (the "Fund").

     1.   The Plan is adopted pursuant to Rule 12b-1 under the Investment
          Company Act of 1940 (the "Act") so as to allow the Fund to make
          payments as contemplated herein, in conjunction with the distribution
          of shares of Common Stock of the Fund ("Shares"). Payments also may be
          made by Value Line, Inc., the Fund's investment adviser, out of its
          fees, its past profits or any other source available to it.

     2.   The Plan is designed to finance activities of Value Line Securities,
          Inc. ("VLS") principally intended to result in sale of the Shares and
          to include the following: (a) to provide incentive to securities
          dealers to sell Shares and to provide administrative support services
          to the Fund and its shareholders; (b) to compensate other
          participating financial institutions and organizations (including
          individuals) for providing administrative support services to the Fund
          and its shareholders; (c) to pay for costs incurred in conjunction
          with advertising and marketing of Shares including expenses of
          preparing, printing and distributing prospectuses and sales literature
          to prospective shareholders, securities dealers and others, and for
          servicing the accounts of shareholders and (d) other costs incurred in
          the implementation and operation of the Plan.

     3.   As compensation for the services to be provided under this Plan, VLS
          shall be paid a fee at the annual rate of 0.25% of the Fund's average
          daily net assets.

     4.   All payments to securities dealers, participating financial
          institutions and other organizations shall be made pursuant to the
          terms of a Distribution Agreement between VLS and such dealer,
          institution or organization.

     5.   The Board of Directors or Trustees shall be provided, at least
          quarterly, with a written report of all amounts expended pursuant to
          the Plan and the purpose for which the amounts were expended.


     6.   The Plan will become effective at the later of July 1, 2000 or upon
          approval by (a) majority of the outstanding shares of Common Stock of
          the Fund and (b) a majority of the Board of Directors or Trustees who
          are not "interested persons" (as defined in the Act) of the Fund and
          have no direct or indirect financial interest in the operation of the
          Plan or in any agreements entered into in connection with the Plan,
          pursuant to a vote cast in person at a meeting called for the purpose
          of voting on the approval of the Plan.

     7.   The Plan shall continue unless terminated in accordance with the terms
          stated below, and thereafter shall continue automatically for
          successive annual periods, provided such continuance is approved at
          least annually in the manner provided by the Act.

     8.   The Plan may be amended at any time by the Board of Directors or
          Trustees provided that (a) any amendment to increase materially the
          costs which the Fund may bear pursuant to the Plan shall be effective
          only upon approval by a vote of a majority of the outstanding voting
          securities of the Fund and (b) any material amendments of the terms of
          the Plan shall become effective only upon approval as provided in
          paragraph 6 (b) hereof.

     9.   The Plan is terminable without penalty at any tine by (a) vote of a
          majority of the Board of Directors or Trustees of the Fund, including
          a majority of the Directors or Trustees who are not "interested
          persons" (as defined in the Act) of the Fund and have no direct or
          indirect financial interest in the operation of the Plan or in any
          agreements entered into in connection with the Plan, or (b) vote of a
          majority of the outstanding voting securities on the Fund.

     10.  While the Plan is in effect, the selection and nomination of Directors
          or Trustees who are not "interest persons" (as defined in the Act) of
          the Fund shall be committed to the discretion of the Directors or
          Trustees who are not "interested persons."

     11.  The Fund shall preserve copies of the Plan and any related agreements
          and all reports made pursuant to paragraph 5 hereof, for a period not
          less than six years from the date thereof, the first two years in an
          easily accessible place.