Exhibit (a)(2)

Articles Supplementary

ARTICLES SUPPLEMENTARY

TO

ARTICLES OF INCORPORATION

OF

VALUE LINE ASSET ALLOCATION FUND, INC.

VALUE LINE ASSET ALLOCATION FUND, INC. (hereinafter called the “Corporation”), a Maryland corporation having its principal office c/o The Prentice-Hall Corporation System, 7 St. Paul Street, Suite 820, Baltimore, Maryland 21202, hereby certifies to the State Department of Assessments and Taxation of Maryland, that:

FIRST: The Corporation presently has authority to issue 300,000,000 shares of capital stock, of the par value $.001 each, having an aggregate par value of $300,000. The Board of Directors has previously classified and designated the Corporation’s shares all as Common Stock.

SECOND: Pursuant to the authority of the Board of Directors to classify and reclassify unissued shares of stock of the Corporation, the Board of Directors hereby re-classifies 20,000,000 of the authorized but unclassified and unissued shares as follows:

Institutional Class 20,000,000 shares

THIRD: Subject to the power of the Board of Directors to classify and reclassify unissued shares, all shares of the Corporation hereby classified as specified in Article Second above shall be invested in the same investment portfolio of the Corporation and shall have the preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends, qualifications, and terms and conditions of redemption set forth in Article V of the Articles of Incorporation of the Corporation (hereafter called the “Articles”) and shall be subject to all other provisions of the Articles relating to stock of the Corporation generally.

FOURTH: Pursuant to the authority of the Board of Directors to change the name or designation of any class of the Corporation, the Board of Directors hereby names and designates as “Investor Class” all issued and unissued shares of stock of the Corporation authorized but not classified as Institutional Class shares pursuant to Article Second.

FIFTH: Following the classification of authorized but unclassified and unissued shares as specified in Article Second above and the designation of the other authorized shares as specified in Article Third above, the Corporation has authority to issue 300,000,000 shares of capital stock, of the par value $.001 each, having an aggregate par value of $300,000. The authorized shares of the Corporation are classified and designated as follows:

Investor Class	280,000,000 shares
Institutional Class	20,000,000 shares

SIXTH: The Corporation is registered as an open-end investment company under the Investment Company Act of 1940, as amended. The shares of stock of the Corporation hereby classified or reclassified as specified in Article Second and Fifth above have been duly classified by the Board of Directors under the authority contained in the Articles.

SEVENTH: Pursuant to § 2-208.1(d)(2) of the Maryland General Corporation Law, the Articles Supplementary to the Articles set forth herein shall become effective on the date the Articles Supplementary are accepted for record by the State Department of Assessments and Taxation of Maryland.

IN WITNESS WHEREOF, the Corporation has caused these presents to be signed in its name and on its behalf by its President and Chief Executive Officer and witnessed by its Treasurer and Secretary on August 18, 2015.

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

WITNESS:

/s/ Emily D. Washington

Emily D. Washington

Treasurer and Secretary

THE UNDERSIGNED, President and Chief Executive Officer of VALUE LINE ASSET ALLOCATION FUND, INC., who executed on behalf of said Corporation the foregoing Articles Supplementary, of which this Certificate is made a part, hereby acknowledges, in the name and on behalf of said Corporation, the foregoing Articles Supplementary to be the corporate act of said Corporation and further certifies that, to the best of his knowledge, information and belief, the matters and facts set forth therein with respect to the authorization and approval thereof are true in all material respects under the penalties of perjury.

/s/ Mitchell E. Appel

Mitchell E. Appel

President and Chief Executive Officer