Supplement, Dated November 9, 2004, to the
           Prospectus of The Value Line Fund, Inc., Dated May 1, 2004

Based upon the number of shares outstanding at October 31, 2004 and the realized
capital gains through that date, the Fund projects that its year-end capital
gains distribution would be approximately $2.025 per share. This amount may
change as a result of developments during the remainder of the year.