SOURCE: Bancroft Convertible Fund, Inc.

November 14, 2005 15:00 ET

Bancroft Convertible Fund Announces Monthly Portfolio Data

MORRISTOWN, NJ -- (MARKET WIRE) -- November 14, 2005 -- Bancroft Convertible Fund, Inc. (AMEX: BCV) today reported monthly portfolio data for the month ended October 31, 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.                                3.2
The Walt Disney Company                                3.0
The St. Paul Travelers Companies, Inc.                 2.5
Nuveen Investments, Inc.                               2.4
International Rectifier Corp.                          2.3
Semco Energy, Inc.                                     2.2
Washington Mutual, Inc.                                2.2
U.S. Bancorp                                           2.1
Schering-Plough Corp.                                  2.0
The TJX Companies, Inc.                                2.0

Major Industry Exposure
                                           % of Net Assets
Financial and Insurance                               15.5
Energy                                                13.1
Pharmaceuticals                                       10.5
Banking/Savings and Loan                               9.6
Technology                                             8.4
Retail                                                 6.4
Telecommunications                                     5.2
Entertainment                                          4.3
Chemicals                                              3.4
Health Care                                            3.1

Portfolio Composition
                                           % of Net Assets
Convertible Bonds and Notes                           52.3
Convertible Preferred Stocks                          26.0
Mandatory Convertible Securities                      16.0
Cash and Equivalents                                   5.7
      TOTAL NET ASSETS                               100.0
Data is unaudited and as of October 31, 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 July 31, 2005 is available on our website (http://www.bancroftfund.com). Visit us there or contact us by email at info@bancroftfund.com 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.

AMEX - BCV          Cusip 059695106

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