Bexil Corporation Announces Third Quarter 2011 Financial Results

NEW YORK, NY--(Marketwire - Nov 15, 2011) - Bexil Corporation (PINKSHEETS: BXLC) today reported its financial results for the third quarter ended September 30, 2011.

Bexil recorded a net loss of $356,172 or $0.35 per share for the three months ended September 30, 2011 compared to a net loss of $455,058 or $0.45 per share for the three months ended September 30, 2010. For the nine months ended September 30, 2011, Bexil recorded a net loss of $789,840 or $0.78 per share compared to a net loss of $946,753 or $0.93 per share for the nine months ended September 30, 2010.

The Company's book value per share at September 30, 2011 (1,017,592 shares issued and outstanding) was $35.45. At September 30, 2011, Bexil had positive working capital of $28,982,782, total assets of $36,476,713, no long term debt, and shareholders' equity of $36,073,130.

The Company's unaudited balance sheet, statements of income, and statements of cash flows as of and for the third quarter and nine months ended September 30, 2011 are appended to the copy of this press release on www.bexil.com.

Business Development

On October 7, 2011 Bexil announced that it has agreed with the John Robbins Group to develop Bexil American Mortgage Inc., a new mortgage origination company focusing on the wholesale and retail market. The John Robbins Group is an experienced mortgage banking executive team, led by John M. Robbins, the former CEO of American Mortgage Network and past Chairman of the Mortgage Bankers Association. This executive team, which comprises the senior management of Bexil American Mortgage, has previously formed startups, and has operated and successfully sold two mortgage banks to major financial institutions, including JP Morgan Chase and Wachovia Bank.

About Bexil Corporation

Bexil is engaged through subsidiaries in investment management and mortgage banking. Bexil subsidiary, Bexil Advisers LLC is the 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.