Integrity Mutual Funds, Inc. Announces Second Quarter 2008 Earnings

Business Wire, August 14, 2008

MINOT, N.D. -- Integrity Mutual Funds, Inc. (IMFD.OB), a mutual fund and financial services company, today reported revenues for the second quarter of 2008 of $8,915,796, a 14% decrease from revenues of $10,375,668 for the second quarter of 2007. Revenues for the six months ended June 30, 2008 were $18,198,480, a 2% decrease from revenues of $18,586,085 for the six months ended June 30, 2007.

The Company reported net income of $336,521, or $0.02 per diluted share, for the second quarter of 2008, compared to net income of $299,511, or $0.01 per diluted share, for the second quarter of 2007. Net income for the six months ended June 30, 2008 was $620,808, or $.03 per diluted share, compared to net income of $67,940, or $.00 per diluted share, for the six months ended June 30, 2007.

The decreases in revenues resulted primarily from decreased fee income received from the Company's sponsored mutual funds and from decreased commission and fee income received by the Company's broker-dealer division.

The increase in net income for the six months ended June 30, 2008 was due, in part, to an increase in due diligence and marketing allowances received by the Company's broker-dealer division. The increase was also due to a separation payment that was expensed during the first quarter of 2007.

Integrity Mutual Funds, Inc. is publicly traded over the OTC Bulletin Board under the symbol IMFD.OB. With its subsidiaries, Integrity Money Management, Inc., Integrity Fund Services, Inc., and Integrity Funds Distributor, Inc., the firm sponsors, manages, and advises mutual funds. IMFD also owns Capital Financial Services, Inc., a full-service brokerage firm that specializes in providing investment products and services to independent investment representatives, financial planners, and investment advisors throughout the United States. More information is available at http://corp.integrityfunds.com or by calling (800) 276-1262.