SOURCE: Bancroft Fund Ltd.

January 09, 2008 12:25 ET

Bancroft Fund Ltd. Announces Dividend and Tax Information for the Year Ended December 31, 2007

MORRISTOWN, NJ--(Marketwire - January 9, 2008) - Bancroft Fund Ltd. (AMEX: BCV) today reported dividend and tax information for the year ended December 31, 2007.

                                              Short-  Long-
Record   Payment Total    Ordinary  Qualified Term    Term    Dividend
Date     Date    Paid Per Income    Dividends Capital Capital Reinvestment
2007     2007    Share    Dividends  (QDI)    Gain    Gain    Price
-------  ------- -------- --------- --------- ------- ------- ------------
Mar. 15  Mar. 29 $ 0.210  $ 0.210   $0.032870 $  --   $  --    $20.1935
Jun. 14  Jun. 28   0.210    0.210    0.027579    --      --     21.2569
Sep. 13  Sep. 27   0.210    0.210    0.032027    --      --     21.4484
Nov. 29  Dec. 26   2.175    0.166    0.035428   0.51   1.499    18.8500
                 -------- --------- --------- ------- -------
                   2.805    0.796    0.127904   0.51   1.499
                 -------- --------- --------- ------- -------

The portion of each ordinary income dividend qualifying for the corporate dividends-received deduction, allowable to certain corporate shareholders, was 16%.

None of the dividends paid during the year represented a return of capital.

There were no year-end reallocations or reclassifications of income or gains.

The amount of interest earned on direct obligations of the U.S. Government was negligible.

CUSIP 059695106

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