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TMCNet: Bancroft Fund Ltd. Announces Issue Price for the 2012 Year-End Dividend Payable on December 28, 2012

[December 21, 2012]

Bancroft Fund Ltd. Announces Issue Price for the 2012 Year-End Dividend Payable on December 28, 2012

MORRISTOWN, NEW JERSEY, Dec 21, 2012 (MARKETWIRE via COMTEX) -- Bancroft Fund Ltd. (NYSE MKT: BCV) announced today that the price at which its beneficial shares will be issued to shareholders who elected to receive additional shares in payment of the 2012 year-end dividend will be $16.44 per share. The issue price represents the closing price of the shares on the NYSE MKT Exchange on December 20, 2012, which was below the net asset value of $19.39 per share on that date. The dividend is payable on December 28, 2012.

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 Exchange under the ticker symbol BCV.

CUSIP# 059 695 106 For further information please contact: Gary I. Levine Chief Financial Officer Ph. (973) 631-1177 Fax (973) 631-9893 info@bancroftfund.com www.bancroftfund.com SOURCE: Bancroft Fund Ltd.

mailto:info@bancroftfund.com http://www.bancroftfund.com/

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