SOURCE: Bancroft Fund Ltd.

May 13, 2008 10:43 ET

Bancroft Fund Ltd. Declares Second Quarter Dividend

MORRISTOWN, NJ--(Marketwire - May 13, 2008) - The Board of Trustees of Bancroft Fund Ltd. (the "Fund") (AMEX: BCV) declared its one hundred fiftieth quarterly dividend today.

The twenty-one cents ($0.21) per share dividend is payable from net investment income on June 26, 2008 to shareholders of record June 12, 2008.

Bancroft Fund Ltd. operates as a closed-end, diversified management investment company and invests primarily in convertible securities, with the objectives of providing income and the potential for capital appreciation; which objectives the Fund considers to be relatively equal, over the long-term, due to the nature of the securities in which it invests. Fund shares are traded on the American Stock Exchange under the ticker symbol BCV.

Cusip 059695106

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