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Bancroft Fund Ltd. Announces Issue Price for the 2011 Year-End
Dividend Payable on December 29, 2011
 

MORRISTOWN, NEW JERSEY, December 22, 2011 – Bancroft Fund Ltd. (NYSE Amex: BCV) announced today that the price at which its beneficial shares will be issued to shareholders who elected to receive additional shares in payment of the 2011 year-end dividend will be $15.32 per share. The issue price represents the closing price of the shares on the NYSE Amex Exchange on December 21, 2011, which was below the net asset value of $15.32 per share on that date. The dividend is payable on December 29, 2011.

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. Its shares are traded on the NYSE Amex Exchange under the ticker symbol BCV.

CUSIP# 059 695 106

For further information please contact:

Gary I. Levine, Chief Financial Officer
Ph. (973) 631-1177
Fax (973) 631-9893
info@bancroftfund.com
www.bancroftfund.com