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


Morristown, NJ, January 23, 2008 -- Bancroft Fund Ltd. (BCV) today reported portfolio data for the month ended December 31, 2007. Data is based on market value. Holdings may change without notice.

Ten Largest Investment Holdings by underlying common stock

	% of Net Assets
Prudential Financial, Inc.	3.1
LSB Industries, Inc.	2.9
Chesapeake Energy Corp.	2.4
Bristol-Myers Squibb Co.	2.3
Freeport-McMoRan Copper & Gold Inc.	2.3
Bristow Group Inc.	2.2
New York Community Bancorp, Inc.	2.2
The Walt Disney Company	2.2
Companhia Vale do Rio Doce	2.0
LSI Corp.	1.9

Major Industry Exposure

	% of Net Assets
Energy	16.6
Pharmaceuticals	9.9
Insurance	8.0
Semiconductors	6.4
Telecommunications	5.9
Minerals and Mining	5.3
Computer Hardware	5.2
Consumer Goods	4.8
Aerospace and Defense	4.2
Banking/Savings and Loan	4.2

Portfolio Composition

	% of Net Assets
Convertible Bonds and Notes	60.4
Corporate Bonds and Notes	1.2
Convertible Preferred Stocks	9.4
Mandatory Convertible Securities	23.2
Cash and Equivalents	5.8
TOTAL NET ASSETS	100.0

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

	% of Net Assets
Aa	3
A	20
Baa	15
Ba	4
B	20
Caa	4
NR	34

Data is unaudited and as of December 31, 2007. This selected information should be read in conjunction with the financial statements and notes included in the Company's Annual Report to Shareholders for the twelve months ended December 31, 2007.

Detailed quarterly portfolio information, as of October 31, 2007 is available on the Fund's website (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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