SOURCE: Bancroft Convertible Fund, Inc.

July 13, 2005 11:59 ET

Bancroft Convertible Fund Announces Monthly Portfolio Data

MORRISTOWN, NJ -- (MARKET WIRE) -- July 13, 2005 -- Bancroft Convertible Fund, Inc. (AMEX: BCV) today reported monthly portfolio data for the month ended June 30, 2005. Data is based on market value. Holdings may change without notice.

Top Ten Holdings by underlying common stock

                                                     % of Net Assets
Chesapeake Energy Corp.                                     3.3
The Walt Disney Company                                     2.7
Nuveen Investments, Inc.                                    2.3
The St. Paul Travelers Companies, Inc.                      2.3
Weatherford International Ltd.                              2.2
International Rectifier Corp.                               1.9
Lear Corp.                                                  1.8
MetLife, Inc.                                               1.8
Oil States International, Inc.                              1.8
Schering-Plough Corp.                                       1.8

Major Industry Exposure
                                                     % of Net Assets
Energy                                                     13.4
Pharmaceuticals                                            11.8
Financial and Insurance                                    11.7
Technology                                                  8.8
Banking/Savings and Loan                                    8.1
Health Care                                                 5.4
Telecommunications                                          5.0
Retail                                                      3.8
Entertainment                                               3.5
Chemicals                                                   3.3

Portfolio Composition
                                                     % of Net Assets
Convertible Bonds and Notes                                47.5
Convertible Preferred Stocks                               23.0
Mandatory Convertible Securities                           17.0
Cash and Equivalents                                       12.5
      TOTAL NET ASSETS                                    100.0
Data is unaudited and as of June 30, 2005. This selected information should be read in conjunction with the financial statements and notes included in the Company's Semi-Annual Report to Stockholders for the six months ended April 30, 2005.

Detailed quarterly portfolio information, as of April 30, 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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