Bancroft Fund Ltd.
cusip # 05-9695106

released January 15, 2013

DIVIDEND AND TAX INFORMATION
FOR THE YEAR ENDED DECEMBER 31, 2012

Record
Date
2012
Payment
Date
2012
Total Paid
Per Share
Ordinary
Income
Dividends
Qualified
Dividends
(QDI)
Short-Term
Capital Gains
Long-Term
Capital Gains
Dividend
Reinvestment Price
Mar. 15
Mar. 29
$0.1275
$0.1275
$0.030664
$-
$ -
$16.6999
Jun. 14
Jun. 28
0.1275
0.1275
0.032436
-


The portion ofeach ordinary income dividend qualifying for the corporate dividends-received deduction, allowable to certain corporate shareholders, was 21%.

None of the dividends paid during the year represented a return of capital.

There were no year-end reallocations or reclassifications of income or gains.

There was no interest earned on direct obligations of the U.S. Government.

distributed by