Integrity Mutual Funds, Inc. Announces First Quarter 2008 Earnings

Business Wire, May 14, 2008

MINOT, N.D. -- Integrity Mutual Funds, Inc. (IMFD.OB), a mutual fund and financial services company, today reported revenues for the first quarter of 2008 of $9,282,685, compared to revenues of $8,207,850 for the first quarter of 2007.

The Company reported net income of $284,287, or $0.01 per diluted share, for the first quarter of 2008, compared to a net loss of $231,571, or $0.02 per diluted share, for the first quarter of 2007.

The increases in revenues and earnings resulted primarily from increased commission and fee income received by the Company's broker-dealer division.

Also contributing to the increase in earnings was a separation payment that was expensed during the first quarter of 2007. Robert E. Walstad, the Company's founder, chief executive officer and chairman of the board of directors retired in February of 2007 and received a separation payment in the amount of $274,500.

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.