SOURCE: Bancroft Convertible Fund, Inc.

March 09, 2005 11:21 ET

Bancroft Convertible Fund Announces Monthly Portfolio Data

MORRISTOWN, NJ -- (MARKET WIRE) -- March 9, 2005 -- Bancroft Convertible Fund, Inc. (AMEX: BCV) today reported monthly portfolio data for the month ended February 28, 2005. Data is based on market value. Holdings may change without notice.

Top Ten Holdings by underlying common stock
                                             % of Net Assets
The Walt Disney Company                            2.8
Weatherford International Ltd.                     2.2
Devon Energy Corp.                                 2.0
The St. Paul Travelers Companies, Inc.             2.0
International Rectifier Corp.                      1.9
Chesapeake Energy Corp.                            1.8
Comverse Technology, Inc.                          1.8
Constellation Brands, Inc.                         1.8
Lear Corp.                                         1.8
Valero Energy Corp.                                1.8

Major Industry Exposure
                                             % of Net Assets
Energy                                            14.0
Financial and Insurance                           10.9
Pharmaceuticals                                    9.9
Banking/Savings and Loan                           9.4
Technology                                         7.6
Health Care                                        5.9
Telecommunications                                 5.7
Entertainment                                      4.6
Retail                                             4.2
Automotive                                         3.6

Portfolio Composition
                                             % of Net Assets
Convertible Bonds and Notes                       53.5
Convertible Preferred Stocks                      19.7
Mandatory Convertible Securities                  17.3
Cash and Equivalents                               9.5
TOTAL NET ASSETS                                 100.0
Data is unaudited and as of February 28, 2005. This selected information should be read in conjunction with the financial statements and notes included in the Company's Annual Report to Stockholders for the twelve months ended October 31, 2004.

Detailed quarterly portfolio information, as of January 31, 2005 is available on our website ( Visit us there or contact us by email at or call us at (973) 631-1177.

Bancroft is a diversified closed-end management investment company. Bancroft's investment objective is to seek a high level of total return on its assets through a combination of current income and capital appreciation. It seeks to achieve this objective by investing primarily in convertible securities.


Cusip 059695106

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