Bancroft Fund Ltd. Announces Monthly Portfolio Data
Davis-Dinsmore Management Company


Morristown, NJ, December 21, 2007 -- Bancroft Fund Ltd. (BCV) today reported portfolio data for the month ended November 30, 2007. Data is based on market value. Holdings may change without notice.

Ten Largest Investment Holdings by underlying common stock

	% of Net Assets
LSB Industries, Inc.	2.8
Freeport-McMoRan Copper & Gold Inc.	2.7
Prudential Financial, Inc.	2.5
Bristol-Myers Squibb Co.	2.4
Chesapeake Energy Corp.	2.4
New York Community Bancorp, Inc.	2.4
The Walt Disney Company	2.4
Bristow Group Inc.	2.2
Companhia Vale do Rio Doce	2.2
MetLife, Inc.	2.1

Major Industry Exposure

	% of Net Assets
Energy	15.9
Pharmaceuticals	10.7
Insurance	8.3
Semiconductors	6.7
Minerals and Mining	5.9
Computer Hardware	5.5
Telecommunications	5.1
Banking/Savings and Loan	4.9
Consumer Goods	4.7
Aerospace and Defense	4.4

Portfolio Composition

	% of Net Assets
Convertible Bonds and Notes	58.4
Corporate Bonds and Notes	1.2
Convertible Preferred Stocks	9.7
Mandatory Convertible Securities	25.7
Common Stocks	0.9
Cash and Equivalents	4.1
TOTAL NET ASSETS	100.0

Portfolio Ratings from Moody's
From S&P when Moody's is unavailable

	% of Net Assets
Aa	5
A	19
Baa	17
Ba	5
B	21
Caa	3
NR	29
Common Stocks	1

Data is unaudited and as of November 30, 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 for the six months ended April 30, 2007.

Detailed quarterly portfolio information, as of October 31, 2007 is available on the Fund's website (http://www.bancroftfund.com). Contact the Fund by email at info@bancroftfund.com or (973) 631-1177.

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 American Stock Exchange under the ticker symbol BCV.


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