SOURCE: Bancroft Fund Ltd.

March 21, 2007 13:34 ET

Bancroft Fund Ltd. Announces Monthly Portfolio Data

MORRISTOWN, NJ -- (MARKET WIRE) -- March 21, 2007 --Bancroft Fund Ltd. (AMEX: BCV) today reported portfolio data for the month ended February 28, 2007. 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                    3.7
U.S. Bancorp                               2.7
The St. Paul Travelers Companies, Inc.     2.6
Celanese Corp.                             2.5
Nuveen Investments, Inc.                   2.5
Prudential Financial, Inc.                 2.3
Chesapeake Energy Corp.                    2.1
Agere Systems Inc.                         2.0
MetLife, Inc.                              2.0
Bristol-Myers Squibb Co.                   1.9


Major Industry Exposure
                               % of Net Assets
Insurance                                 12.9
Semiconductors                            12.1
Pharmaceuticals                           10.2
Energy                                     8.5
Banking/Savings and Loan                   7.5
Multi-Industry                             4.8
Aerospace and Defense                      4.7
Computer Hardware                          3.9
Chemicals                                  3.9
Entertainment                              3.7


Portfolio Composition
                               % of Net Assets
Convertible Bonds and Notes               59.3
Convertible Preferred Stocks              15.8
Mandatory Convertible Securities          18.0
Common Stocks                              1.8
Cash and Equivalents                       5.1
      TOTAL NET ASSETS                   100.0
Data is unaudited and as of February 28, 2007. This selected information should be read in conjunction with the financial statements and notes included in the Company's Annual Report to Shareholders for the twelve months ended October 31, 2006.

Detailed quarterly portfolio information, as of January 31, 2007 is available on our website (http://www.bancroftfund.com). 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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