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Bancroft Fund Ltd.
cusip # 05-9695106

released January 11, 2010

DIVIDEND AND TAX INFORMATION
FOR THE YEAR ENDED DECEMBER 31, 2009
Record
Date
2009		 Payment
Date
2009


Total Paid
Per Share

Ordinary
Income
Dividends

   Qualified
Dividends
(QDI)		 Short-Term
Capital Gains 		 

Long-Term
Capital Gains

Dividend
Reinvestment Price
Mar. 12 Mar. 26 $0.170 $0.170   $0.015638 $

  —

$

  —

 $11.3298
Jun. 11 Jun. 25 0.170 0.170   0.037214  

  —

  —

 13.0351
Sep. 10 Sep. 24 0.130 0.130   0.030438  

  —

  —

 14.6592
Nov. 27 Dec. 28       0.256       0.256   0.048107  

  —

  —

 14.7900
0.726 0.726   0.131397  

  —

  —
The portion of each ordinary income dividend qualifying for the corporate dividends-received deduction, allowable to certain corporate shareholders, was 18%.

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.