August 19, 2008 – The Board of Trustees of Bancroft Fund Ltd. (AMEX: BCV) declared its one hundred fifty-first quarterly dividend today.

The twenty-one cents ($0.21) per share dividend is payable from net investment income on September 25, 2008 to shareholders of record September 11, 2008.

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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