If you're seeking a higher level of income than available from a tax-free money market fund, would benefit from income exempt from Federal, New York State, and local income tax, and can accept moderate fluctuations in the value of your investment, then the Value Line New York Tax Exempt Trust may be ideal for you. Besides triple tax-free income, the Trust also offers:

• Highly Regarded ExpertiseValue Line is one of the nation's most respected investment research firms. Value Line also furnishes investment advisory services to private and institutional accounts with combined assets of approximately $3 billion. The Value Line New York Tax Exempt Trust gives you access to the same knowledge and same resources.

• No Sales ChargeThe Value Line New York Tax Exempt Trust is available with no sales charges or commissions and no redemption fees.

• Free Exchange PrivilegesYou may transfer all or part of your investment into any of the 12 other investment portfolios in the Value Line Family of Funds.

• Low Minimum Investment$1,000; $250 for each additional investment. The Trust offers an automatic investment plan—Valu-Matic^®—for investors who want to start and maintain a regular investment program.