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Bancroft Fund Ltd.
cusip # 05-9695106

released January 12, 2009

DIVIDEND AND TAX INFORMATION
FOR THE YEAR ENDED DECEMBER 31, 2008
Record
Date
2008		 Payment
Date
2008


Total Paid
Per Share

Ordinary
Income
Dividends

   Qualified
Dividends
(QDI)		 Short-Term
Capital Gains 		 

Long-Term
Capital Gains

Dividend
Reinvestment Price
Mar. 14 Mar. 28 $0.21 $0.21   $0.021979 $

  —

$

  —

 $18.1305
Jun. 12 Jun. 26 0.21 0.21   0.041885  

  —

  —

 18.3488
Sep. 11 Sep. 25 0.21 0.21   0.042005  

  —

  —

 14.2382
Nov. 28 Dec. 29       0.19       0.19   0.087865  

  —

  —

 10.1900
0.82 0.82   0.193734  

  —

  —
The portion of each ordinary income dividend qualifying for the corporate dividends-received deduction, allowable to certain corporate shareholders, was 24%.

None of the dividends paid during the year represented a return of capital.

There were no year-end reallocations or reclassifications of income or gains.

There was no interest earned on direct obligations of the U.S. Government.