Bancroft Fund Ltd. Announces Earnings and Financial Update
Davis-Dinsmore Management Company


Morristown, NJ, November 29, 2007 -- Bancroft Fund Ltd. (BCV) today reported financial highlights and certain portfolio information for the twelve months ended October 31, 2007.

	Three Months Ended October 31		Twelve Months Ended October 31
Earnings Report	2007	2006	2007	2006
Net Income	$949,000	$1,092,000	$4,596,000	$4,511,000
Per Share	$0.17	$0.19	$0.80	$0.80
Shares Outstanding	5,733,016	5,625,134	5,733,016	5,625,134
Total Net Assets	$139,580,000	$126,847,000	$139,580,000	$126,847,000
Net Asset Value Per Share	$24.35	$22.55	$24.35	$22.55

Fund Statistics as of October 31, 2007					Top Ten Holdings by underlying common stock as of October 31, 2007
							% of
Market price			$21.35				Net Assets
Net asset value (NAV)			$24.35		Freeport-McMoRan Copper & Gold Inc.		2.7
Premium/(Discount)			(12.32)%		LSB Industries, Inc.		2.5
Total Net Assets			$139,580,000		Prudential Financial, Inc.		2.2
12-Month income distribution			$0.895		The Walt Disney Company		2.2
Yield on market price			4.19%		Bristol-Myers Squibb Co.		2.1
Ratio of expenses			1.08%		Bristow Group Inc.		2.1
Ratio of net income			3.47%		Celanese Corp.		2.1
Portfolio turnover			79.59%		Chesapeake Energy Corp.		2.1
Shares outstanding			5,733,016		Companhia Vale do Rio Doce		2.1
					New York Community Bancorp, Inc.		2.1
Major Industry Exposure			% of		Portfolio Ratings from Moody's
as of October 31, 2007			Net Assets		as of October 31, 2007
Energy			14.4		(From S&P when Moody's is unavailable)		% of Portfolio
Pharmaceuticals			10.3		Aa		6
Insurance			7.6		A		20
Semiconductors			6.5		Baa		15
Banking/Savings and Loan			6.1		Ba		6
Minerals and Mining			5.8		B		19
Computer Hardware			5.3		Caa		2
Telecommunications			4.6		NR		31
Health Care			4.2		Common Stocks		1
Aerospace and Defense			3.8
Asset Allocation			% of
as of October 31, 2007			Net Assets
Convertible Bonds and Notes			59.2
Corporate Bonds and Notes			1.1
Convertible Preferred Stocks			9.6
Mandatory Conv. Securities			24.0
Common Stocks			0.8
Short-term Securities			3.7
Other Assets			1.6

Data is unaudited and as of October 31, 2007. This selected information should be read in conjunction with the financial statements and notes included in the Company's Semi-Annual Report to Shareholders (PDF 95 Kb) for the six months ended April 30, 2007.

Detailed portfolio information is available on their website (http://www.bancroftfund.com). Visit Bancroft Fund there or contact them by e-mail at info@bancroftfund.com or call (973) 631-1177.

Bancroft 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.



Click for more information on Davis-Dinsmore Management Company or other Closed-End Funds