Press Release by Associated Capital Group

21 July 2020

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

GABELLI VALUE PLUS+ TRUST PLC (the "Company")

Legal Entity Identifier: 213800FZFN1SD1GNNZ11

Press Release by Associated Capital Group

The Company announces that Associated Capital Group, a shareholder in the Company and an affiliate of GAMCO Investors, Inc., the ultimate parent company of Gabelli Funds, LLC, the Company's discretionary investment manager, has issued a press release in relation to its investment in the Company.

The full text of the press release is available via the link below:

https://www.gabelli.co.uk/docs/pdfs/GVP_AGM_20200720.pdf.

For further information please contact:

Maitland Administration Services Limited

Email: cosec@maitlandgroup.co.uk

Phone: +44 (0) 1245 398984

Peel Hunt LLP

Luke Simpson / Liz Yong, Corporate Broking

Telephone: +44 20 7418 8900