SOURCE: Bancroft Fund Ltd.

December 18, 2006 11:01 ET

Bancroft Fund Ltd. Announces Monthly Portfolio Data

MORRISTOWN, NJ -- (MARKET WIRE) -- December 18, 2006 -- Bancroft Fund Ltd. (AMEX: BCV) today reported portfolio data for the month ended November 30, 2006. 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                                 3.8
The St. Paul Travelers Companies, Inc.                  2.8
Nuveen Investments, Inc.                                2.7
Chesapeake Energy Corp.                                 2.2
Celanese Corp.                                          2.1
EchoStar Communications Corp.                           2.0
U.S. Bancorp                                            2.0
LSB Industries, Inc.                                    1.9
MetLife, Inc.                                           1.9
Schering-Plough Corp.                                   1.9

Major Industry Exposure
                                            % of Net Assets
Technology                                             20.0
Financial and Insurance                                17.3
Energy                                                  9.3
Pharmaceuticals                                         9.1
Banking/Savings and Loan                                8.0
Entertainment                                           5.8
Aerospace and Defense                                   5.1
Health Care                                             3.6
Chemicals                                               3.4
Multi-Industry                                          3.4

Portfolio Composition
                                            % of Net Assets
Convertible Bonds and Notes                            58.0
Convertible Preferred Stocks                           21.5
Mandatory Convertible Securities                       17.9
Cash and Equivalents                                    2.6
      TOTAL NET ASSETS                                100.0
Data is unaudited and as of November 30, 2006. This selected information should be read in conjunction with the financial statements and notes included in the Company's Semi-Annual Report to Shareholders for the six months ended April 30, 2006.

Detailed quarterly portfolio information, as of October 31, 2006 is available on our website ( 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.

AMEX: BCV Cusip 059695106

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