Bancroft Fund Ltd. Declares First Quarter Dividend and Results From Annual Shareholders Meeting

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Symbol	Price	Change
BCV	15.08	+0.08

{"s" : "bcv","k" : "c10,l10,p20,t10","o" : "","j" : ""}

MORRISTOWN, NJ--(MARKET WIRE)--Feb 13, 2009 -- The Board of Trustees of Bancroft Fund Ltd. (AMEX:BCV - News) declared its one hundred fifty-third quarterly dividend today.

The $0.17 per share dividend is payable from net investment income on March 26, 2009 to shareholders of record March 12, 2009.

The following actions were taken at the Annual Shareholders meeting held on Friday, February 13th: (1) two trustees were elected and (2) the selection of Tait, Weller & Baker LLP as independent auditors for the 2009 fiscal year was ratified.

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.

CUSIP# 059 695 106

     For further information, please contact:
     Gary I. Levine
     CFO
     Ph. (973) 631-1177
     Website: http://www.bancroftfund.com