Bancroft Fund Ltd. Announces Earnings and Financial Update

MORRISTOWN, NJ--(Marketwired - Sep 3, 2014) - Bancroft Fund Ltd. (NYSE MKT: BCV) today reported earnings, financial highlights and certain portfolio information for the nine months ended July 31, 2014:

EARNINGS REPORT			Nine Months Ended
			July 31
			2014			2013
Net Income			$789,000			$1,140,000
	Per Share		$0.15			$0.21
Shares Outstanding			5,242,291			5,374,755
Total Net Assets			$123,093,000			$115,609,000
Net Asset Value Per Share			$23.48			$21.51
FUND STATISTICS
Market price			$20.00
Net asset value (NAV)			$23.48
Premium/(Discount)			(14.82	)%
Total Net Assets			$123,093,000
12-Month income distribution			$0.56
Yield on market price			2.8	%
Ratio of expenses (annualized)			1.1	%
Ratio of net income (annualized)			0.9	%
Portfolio turnover			35	%
Shares outstanding			5,242,291
TEN LARGEST HOLDINGS
by underlying common stock
			% of Net Assets
Gilead Sciences, Inc.			2.9
Wells Fargo & Co.			2.0
United Technologies Corp.			1.9
Micron Technology, Inc.			1.8
NextEra Energy, Inc.			1.8
The Priceline Group Inc.			1.8
Bank of America Corp.			1.7
Iconix Brand Group, Inc.			1.7
Illumina, Inc.			1.6
Nuance Communications, Inc.			1.6
SECTOR WEIGHTINGS
			% of Net Assets
Consumer Discretionary			8.6
Consumer Staples			2.7
Energy			5.9
Financials			21.4
Health Care			16.5
Industrials			7.6
Information Technology			28.4
Materials			2.8
Telecommunication Services			0.7
Utilities			2.9
ASSET ALLOCATION
			% of Net Assets
Convertible Bonds & Notes			72.7
Convertible Preferred Stock			12.1
Mandatory Convertible Securities			12.0
Common Stock			0.6
Cash & Equivalents			2.6

Data is unaudited and as of July 31, 2014. 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 six months ended April 30, 2014.

Detailed portfolio information is available on our website (www.bancroftfund.com). Contact us by email at [e-mail] or call us at [phone].

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 059695106

For further information please contact:
Gary I. Levine
Chief Financial Officer
Ph. [phone]
Fax [phone]