OKEEFFE JANE D 4

4 · BANCROFT CONVERTIBLE FUND INC · Filed Dec 1, 2003

Form 4

Period: 2003-12-01

DirectorPresidentOther

Transactions

Exercise of In-Money
Subscription Rights (Right to buy)
2003-12-01−2,148→ 0 total(indirect: By Trust)
Exercise: $18.32From: 2003-11-18Exp: 2003-12-16→ Common Stock (358 underlying)
Exercise of In-Money
Subscription Rights (Right to buy)
2003-12-01−2,112→ 0 total(indirect: By Trust)
Exercise: $18.32From: 2003-11-18Exp: 2003-12-16→ Common Stock (352 underlying)
Exercise of In-Money
Subscription Rights (Right to buy)
2003-12-01−4,680→ 0 total
Exercise: $18.32From: 2003-11-18Exp: 2003-12-16→ Common Stock (780 underlying)
Exercise of In-Money
Common Stock
2003-12-01$18.32/sh+780$14,290→ 5,453 total
Exercise of In-Money
Common Stock
2003-12-01$18.32/sh+358$6,559→ 2,501 total(indirect: By Trust)
Exercise of In-Money
Common Stock
2003-12-01$18.32/sh+352$6,449→ 2,463 total(indirect: By Trust)

Footnotes (5)

[F1]Based on an estimated subscription price per share of 95% of the average of the volume-weighted average sales prices of a share of the BCV's Common Stock on the American Stock Exchange ("AMEX") on November 13, 2003 and the four preceding trading days. The actual subscription price per share will be the lesser of (A) 95% of the net asset value per share of the BCV's Common Stock on the AMEX on December 17, 2003, or (B) 95% of the average of the volume-weighted average sales prices of a share of the BCV's Common Stock on the AMEX on December 17, 2003 and the four preceding trading days.
[F2]Includes 267 shares acquired on various dates in fiscal years 2001, 2002 and 2003 under the BCV dividend reinvestment plan.
[F3]Includes 178 shares acquired on various dates in fiscal years 2001, 2002 and 2003 under the BCV dividend reinvestment plan.
[F4]Uniform Transfer to Minors Act (NJ)
[F5]Includes 175 shares acquired on various dates in fiscal years 2001, 2002 and 2003 under the BCV dividend reinvestment plan.

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