Bancroft Fund Ltd. Announces Earnings and Financial Update
Dinsmore Capital Management


Morristown, NJ, June 4, 2008 -- Bancroft Fund Ltd. (AMEX: BCV) today reported financial highlights and certain portfolio information for the six months ended April 30, 2008.

	Three Months Ended April 30		Six Months Ended April 30
Earnings Report	2008	2007	2008	2007
Net Income	$994,000	$1,046,000	$2,271,000	$2,338,000
Per Share	$0.19	$0.18	$0.44	$0.41
Shares Outstanding	5,189,875	5,733,016	5,189,875	5,733,016
Total Net Assets	$107,390,000	$133,393,000	$107,390,000	$133,393,000
Net Asset Value Per Share	$20.69	$23.27	$20.69	$23.27

Fund Statistics		Top Ten Holdings by underlying common stock
Market price	$18.48		% of Net Assets
Net asset value (NAV)	$20.69	Prudential Financial, Inc.	3.6
Premium/(Discount)	(10.68)%	Chesapeake Energy Corp.	3.3
Total Net Assets	$107,390,000	Freeport-McMoRan Copper & Gold Inc.	3.0
12-Month income distribution	$0.796	Companhia Vale do Rio Doce	2.7
Yield on market price	4.31%	New York Community Bancorp, Inc.	2.7
Ratio of expenses	1.26%*	LSB Industries, Inc.	2.6
Ratio of net income	3.62%*	LSI Corp.	2.5
Portfolio turnover	23.93%	St. Jude Medical, Inc.	2.4
Shares outstanding	5,189,875	The Walt Disney Company	2.4
* Annualized		Wyeth	2.4
		Portfolio Ratings from Moody's
Major Industry Exposure as of January 31, 2008	% of Net Assets	(From S&P when Moody's is unavailable)	% of Portfolio
Energy	15.4	Aa	8
Pharmaceuticals	10.8	A	16
Insurance	8.8	Baa	15
Semiconductors	6.8	Ba	3
Telecommunications	6.5	B	22
Computer Hardware	6.0	Caa	4
Minerals and Mining	5.8	NR	31
Health Care	5.4
Consumer Goods	5.1
Banking/Savings and Loan	4.7
Asset Allocation	% of Net Assets
Convertible Bonds and Notes	58.1
Corporate Bonds and Notes	1.1
Convertible Preferred Stocks	10.3
Mandatory Conv. Securities	28.8
Other Assets	1.7

Data is unaudited and as of April 30, 2008. 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 twelve months ended October 31, 2007.

Detailed portfolio information is available on the website (http://www.bancroftfund.com) or contact by e-mail at info@bancroftfund.com or call (973) 631-1177.

Bancroft 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.




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