SOURCE: Bancroft Fund Ltd.

November 16, 2009 16:07 ET

Bancroft Fund Ltd. Declares Year-End Distribution of Investment Income

MORRISTOWN, NJ--(Marketwire - November 16, 2009) - The Board of Trustees of Bancroft Fund Ltd. (NYSE Amex: BCV) declared its one hundred fifty-sixth quarterly dividend today.

The $0.256 per share dividend is payable from net investment income on December 28, 2009 to shareholders of record November 27, 2009.

SHAREHOLDERS MEETING DATE: The trustees also set February 8, 2010 as the date of the annual shareholders meeting, with a record date of December 16, 2009.

Bancroft Fund Ltd. operates as a closed-end, diversified management investment company and invests primarily in convertible securities, with the objectives of providing income and the potential for capital appreciation; which objectives the Fund considers to be relatively equal, over the long-term, due to the nature of the securities in which it invests. Its shares are traded on the NYSE Amex Exchange under the ticker symbol BCV.

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