Integrity's Montana Tax-Free Fund Receives Five-Star Rating by Morningstar®

Business Wire, May 8, 2008

MINOT, N.D. -- Integrity Mutual Funds, Inc. (IMFD.OB), a mutual fund and financial services company, announced today that its Montana Tax-Free Fund (MTTAX) has earned a five-star rating overall by Morningstar. In addition, the Fund has a four-star rating for its three year time period and a five-star rating for its five year time period. The rating is based on the Fund's performance from its inception to April 30, 2008.

"The fact that this Fund's performance has been recognized by Morningstar underscores our efforts to provide investors with access to top ranked Funds to help them meet their financial goals," said Monte Avery, portfolio manager of the Montana Tax-Free Fund. "We are thrilled to get these results for our customers and look forward to continued success."

The Montana Tax-Free Fund is designed to provide consistent returns, monthly dividends, competitive yields and income exempt from state and federal income tax.

In addition to the Montana Tax-Free Fund, Avery manages seven other state specific mutual funds, including the ND Tax-Free Fund, and the Integrity Fund of Funds.

The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-year, five-year, and ten-year (if applicable) Morningstar Ratings. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating[TM] based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. These ratings change monthly. The top 10% of funds in an investment receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars and the bottom 10% receive one star. Morningstar does not guarantee the accuracy of this information.

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).