SOURCE: Bexil

Bexil

May 20, 2011 17:51 ET

Bexil Corporation Announces First Quarter 2011 Financial Results

NEW YORK, NY--(Marketwire - May 20, 2011) - Bexil Corporation (PINKSHEETS: BXLC) today reported its financial results for the first quarter ended March 31, 2011.

Bexil recorded a net loss of $335,130 or $$0.33 per share for the three months ended March 31, 2011 compared to a net loss of $170,867 or $0.17 per share for the three months ended March 31, 2010.

The Company's book value per share at March 31, 2011 (1,017,592 shares issued and outstanding) was $35.46. At March 31, 2011, Bexil had positive working capital of $30,702,986, total assets of $36,693,252, no long term debt, and shareholders' equity of $36,085,400.

The Company's unaudited balance sheet, statements of income, and statements of cash flows as of and for the three months ended March 31, 2011 are appended to the copy of this press release on www.bexil.com.

About Bexil Corporation
Bexil is engaged through a subsidiary as investment manager to Dividend and Income Fund, Inc., a closed end fund (NYSE: DNI) (NAV: XDNIX). To learn more about Bexil, including Rule 15c2-11 information, please visit www.bexil.com. Certain affiliates of Bexil are engaged in stock market and gold investing through investment management of equity and gold mutual funds, closed end funds, and proprietary trading.

Safe Harbor Note

This release contains certain "forward looking statements" made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Bexil Corporation, which may cause the company's actual results to be materially different from those expressed or implied by such statements. The forward looking statements made herein are only made as of the date of this release, and the company undertakes no obligation to publicly update such forward looking statements to reflect subsequent events or circumstances.

The Company views book value per share, a non-GAAP financial measure, as an important indicator of financial performance. Presented in conjunction with other financial information, the combined presentation can enhance an investor's understanding of the Company's underlying financial condition and results from operations. The definition of book value as presented in this press release is shareholders' equity divided by currently issued and outstanding shares.

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