Integrity's Growth and Income Fund Recognized as Lipper Leader®

Business Wire, July 10, 2008

Unique Ethical Fund a leader in its Class

MINOT, N.D. -- Integrity Mutual Funds, Inc. (IMFD.OB), a mutual fund and financial services company, announced today that its Integrity Growth & Income Fund (IGIAX) has been recognized as a Lipper Leader[R] for the Overall, 3-Year, and 5-Year period ending May 31, 2008.

The Fund ranks in the highest 20% of funds in its peer group, the Lipper Multi-Cap Core category, in the following categories: Total Return, Consistent Return, Capital Preservation. The Fund ranked in the highest 20% of funds in its peer group in Tax Efficiency Overall and 3-Year and top 40% in Tax Efficiency for 5-Year.

"The fact that this Fund's performance has been recognized as a Lipper Leader underscores our efforts to provide investors with access to top ranked Funds to help them meet their financial goals," said Robert Loest, senior portfolio manager of Integrity Growth & Income Fund. "I believe it is possible to manage an ethically focused fund and still generate competitive returns."

The Integrity Growth & Income Fund is designed to provide disciplined risk management, ethical investment standards, and competitive total returns.

The Lipper ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Total Return, Consistent Return, Preservation and Tax Efficiency over three-, five- and ten-year periods (if applicable). Lipper Leaders are scored 5 and are the top 20% of their category, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1.

Lipper ratings for Total Return reflect funds' historical total return performance relative to peers as of 5/31/2008. Number of funds in Lipper Multi-Cap Core category: Overall 667 funds, 3-year 667 funds, 5-year 489 funds.

Lipper ratings for Consistent Return reflect funds' historical risk-adjusted returns, adjusted for volatility, relative to peers as of 5/31/2008. Number of funds in Multi-Cap Core category: Overall 655 funds, 3-year 650 funds, 5-year 477 funds.

Lipper ratings for Preservation reflect funds' historical loss avoidance relative to other funds within the same asset class, as of 5/31/2008. Preservation ratings are relative, rather than absolute, measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds. Number of funds in Multi-Cap Core category: Overall 8985 funds, 3-year 8985 funds, 5-year 7229 funds.

Lipper ratings for Tax Efficiency identifies a fund that has been successful at deferring taxes over the measurement period relative to similar funds, as of 5/31/08. Number of funds in category: Overall 8985 funds, 3-year 8985 funds, 5-year 7229 funds.

Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperleaders.com. Lipper Leader Copyright 2008, Reuters, All Rights Reserved.

About Integrity Mutual Funds

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.

Please consider carefully the Fund's investment objectives, risks, charges and expenses. For this and other important information, obtain a fund prospectus by visiting www.integrityfunds.com or by calling 1-800-276-1262. Read it carefully before investing. Distributed by Integrity Funds Distributor, Inc.

Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Bond prices and, therefore, the value of a bond fund will decline as interest rates rise. Because the fund invests in securities of a single state, the fund is more susceptible to factors adversely impacting the respective state securities more so than a municipal fund that does not concentrate its securities in a single state. All or a portion of a fund's dividends may be subject to state and local taxes and, where applicable, federal alternative minimum tax (AMT).