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


Morristown, NJ, February 26, 2008 -- Bancroft Fund Ltd. (AMEX: BCV) today reported financial highlights and certain portfolio information for the three months ended January 31, 2008.

	Three Months Ended January 31
Earnings Report	2008	2007
Net Income	$1,277,000	$1,292,000
Per Share	$0.21	$0.23
Shares Outstanding	6,070,029	5,733,016
Total Net Assets	$124,639,000	$130,130,000
Net Asset Value Per Share	$20.53	$22.70

Fund Statistics as of January 31, 2008		Top Ten Holdings by underlying common stock as of January 31, 2008
Market price	$18.85		% of Net Assets
Net asset value (NAV)	$20.53	Prudential Financial, Inc.	3.1
Premium/(Discount)	(8.18)%	LSB Industries, Inc.	2.8
Total Net Assets	$124,639,000	Bristol-Myers Squibb Co.	2.4
12-Month income distribution	$0.796	New York Community Bancorp, Inc.	2.4
Yield on market price	4.22%	Chesapeake Energy Corp.	2.3
Ratio of expenses	1.42%*	The Walt Disney Company	2.2
Ratio of net income	3.98%*	Freeport-McMoRan Copper & Gold Inc.	2.1
Portfolio turnover	12.85%	LSI Corp.	2.0
Shares outstanding	6,070,029	Companhia Vale do Rio Doce	1.9
* Annualized		St. Jude Medical, Inc.	1.9
		Portfolio Ratings from Moody's as of January 31, 2008
Major Industry Exposure as of January 31, 2008	% of Net Assets	(From S&P when Moody's is unavailable)	% of Portfolio
Energy	13.8	Aa	3
Pharmaceuticals	9.9	A	20
Insurance	8.0	Baa	17
Semiconductors	6.2	Ba	4
Telecommunications	5.7	B	21
Computer Hardware	5.2	Caa	5
Minerals and Mining	5.2	NR	30
Consumer Goods	4.5
Banking/Savings and Loan	4.1
Health Care	3.4
Asset Allocation as of January 31, 2008	% of Net Assets
Convertible Bonds and Notes	54.5
Corporate Bonds and Notes	1.2
Convertible Preferred Stocks	9.5
Mandatory Conv. Securities	22.1
Short-term Securities	8.9
Other Assets	3.8

Data is unaudited and as of January 31, 2008. 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 twelve months ended October 31, 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.




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