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Bancroft Fund Ltd. Announces Earnings and Financial Update

MORRISTOWN, NJ--(Marketwired - Feb 13, 2015) - Bancroft Fund Ltd. (NYSE MKT: BCV) today reported earnings, financial highlights and certain portfolio information for the three months ended January 31, 2015:

EARNINGS REPORT

Three Months Ended

January 31

2015

2014

Net Income

$190,000

$317,000

Per Share

$0.04

$0.06

Shares Outstanding

5,221,954

5,318,682

Total Net Assets

$122,414,000

$120,993,000

Net Asset Value Per Share

$23.44

$22.75

FUND STATISTICS

Market price

$19.95

Net asset value (NAV)

$23.44

Premium/(Discount)

(14.89)%

Total Net Assets

$122,414,000

12-Month income distribution

$0.502

Yield on market price

2.5%

Ratio of expenses (annualized)

1.0%

Ratio of net income (annualized)

0.6%

Portfolio turnover

9%

Shares outstanding

5,221,954

TEN LARGEST HOLDINGS

by underlying common stock

% of Net Assets

Gilead Sciences, Inc.

3.0

Micron Technology, Inc.

2.1

Wells Fargo & Co.

2.0

NextEra Energy, Inc.

1.9

Crown Castle International Corp.

1.8

American Tower Corp.

1.7

Bank of America Corp.

1.7

Equinix, Inc.

1.7

Jarden Corp.

1.7

Mylan Inc.

1.6

SECTOR WEIGHTINGS

% of Net Assets

Consumer Discretionary

8.1

Consumer Staples

3.2

Energy

3.1

Financials

22.0

Health Care

17.6

Industrials

6.4

Information Technology

30.7

Materials

1.2

Telecommunication Services

1.7

Utilities

3.1

ASSET ALLOCATION

% of Net Assets

Convertible Bonds & Notes

69.4

Convertible Preferred Stock

11.8

Mandatory Convertible Securities

15.4

Common Stock

0.5

Cash & Equivalents

2.9

Data is unaudited and as of January 31, 2015. This select 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 October 31, 2014.

Detailed portfolio information is available on our website (www.bancroftfund.com). Contact us by email at info@bancroftfund.com or call us at (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 NYSE MKT LLC exchange under the ticker symbol BCV.

Cusip 059695106

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