VALUE LINE INC

The Company does not have a standing nominating committee and there is not a written charter governing selection of directors for annual elections or to fill vacancies. The Board feels it is appropriate for the full Board to carry out these duties, noting that the Company has a relatively small Board.

The Board’s process for identifying and evaluating potential directors includes accepting recommendations from directors, officers, and shareholders of the Company. Persons standing for re-election are encouraged to own shares. There is no difference in the manner in which the Board evaluates persons recommended by directors or officers and persons recommended by shareholders.

To be considered in the preparation of the annual proxy statement, recommendations from shareholders must be received by the Company in writing by at least thirty (30) (but not more than sixty (60)) days prior to the shareholders’ meeting, regardless of any postponements, deferrals or adjournments of that meeting to a later date; provided that if less than forty (40) days’ notice or prior public disclosure of the date of the meeting is given or made to shareholders, notice by the shareholder to be timely must be received by the Company as provided herein not later than the close of business on the tenth (10 th) day following the earlier of the day on which such notice of the date of the meeting was mailed or the day on which public disclosure was made. Such shareholder’s notice shall set forth (a) as to each person whom the shareholder proposes for election or reelection as a director all information relating to such persons that is required to be disclosed in solicitations of proxies for election of directors, or is otherwise required, in each case pursuant to Regulation 14A under the Securities Exchange Act of 1934, as amended; and (b) as to the shareholder giving the notice (i) the name and address, as they appear on the Company’s books, of such shareholder proposing the candidate and any other shareholders known by such shareholder to be supporting the person, and (ii) the class and number of shares which are beneficially owned by such shareholder who is proposing that individual. Recommendations should identify the submitting shareholder, the person recommended for consideration and the reasons the submitting shareholder believes such person should be considered.

Any shareholder or other interested party who desires to communicate with any director may do so by writing to the director, c/o Value Line, Inc., 551 Fifth Avenue, New York, NY 10176-2800.