Notice Of Privacy Policy and Practices:
Please read our Privacy Policy carefully. It has information about our policies for the collection, use, disclosure, and protection of information we collect and maintain. It is important for you to know we do not sell or share Customer Information with marketers outside the Value Line Funds and the service providers to the Funds.

The Value Line Funds recognize and respect the privacy concerns and expectations of our customers, including individuals who provide their nonpublic personal information to the Value Line Funds but do not invest in the Value Line Funds' shares.

We provide this notice so that you will know what kinds of information we collect about our customers and the circumstances in which that information may be disclosed to third parties who are not affiliated with the Value Line Funds.

Collection of Customer Information:
We collect nonpublic personal information about our customers from the following sources:

• Account Applications and other forms, which may include a customer's name, address and social security number;
• Account History, including information about the transactions and balances in customer's accounts; and
• Correspondence, written, telephonic or electronic between a customer and the Value Line Funds or service providers to the Value Line Funds.

Disclosure of Customer Information:
We may disclose all of the information described above to third parties who are not affiliated with the Value Line Funds only under one or more of these circumstances:

• As Authorized - if you request or authorize the disclosure of the information.
• As Permitted by Law - for example, sharing information with companies that work for us such as the investment adviser, the custodian, the transfer agent, the distributor and the administrator, and non-financial companies such as data processing companies.
• In other situations - we may also disclose this information to non-affiliated third parties when permitted or required by law. This may include a disclosure in connection with a subpoena or similar legal process, an investigation or an audit or examination. We may also share any of this information outside of our service providers, if we have your written consent.

Security, Safeguarding and Destruction of Customer Information and Reports BFDS, which is the service provider that acts on our behalf, has certified that BFDS will keep the information that we provide to them confidential, and use the information only to provide the services we've asked them to perform for you and us.