Integrity Growth and Income Fund to Convert to a No-Load

Business Wire, Sept 8, 2008

Ethical Fund a Lipper[R] Leader in its Class - "Investing with your Conscience"

MINOT, N.D. -- Integrity Mutual Funds, Inc. (IMFD.OB), a mutual fund and financial services company, announced today that its Board of Trustees has voted that the fee structure of the Integrity Growth & Income Fund (IGIAX) should be modified to reflect that of a "no-load" fund. Effective September 2, 2008, the Fund's up-front sales charge and contingent deferred sales charge ("CDSC") for Class A shares was eliminated.

The Integrity Growth and Income Fund addresses a broad range of ethical and social concerns. These include employee and community social issues, corporate governance, environmental considerations, and treatment of animals. The Fund is a Lipper Leader as it ranks in the highest 20% of funds in its peer group, the Lipper Multi-Cap Core category, in the following categories: Consistent Return, Capital Preservation, and Tax Efficiency during the 3-Year, 5-Year and Overall Rating periods.. The Fund ranked in the highest 20% of funds in its peer group in Total Return in the 3-Year, 5-Year Rating periods, and top 40% in Total Return for the Overall Rating period.

"I am thrilled that we have converted this Fund to a no-load status. My goal is to manage an ethically focused fund and generate competitive returns and I hope investors take a look at what we offer," said Robert Loest, senior portfolio manager of Integrity Growth & Income Fund.

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 8/31/2008. Number of funds in Lipper Multi-Cap Core category: Overall 652 funds, 3-year 652 funds, 5-year 480 funds.

Lipper ratings for Consistent Return reflect funds' historical risk-adjusted returns, adjusted for volatility, relative to peers as of 8/31/2008. Number of funds in Multi-Cap Core category: Overall 639 funds, 3-year 633 funds, 5-year 466 funds.

Lipper ratings for Preservation reflect funds' historical loss avoidance relative to other funds within the same asset class, as of 8/31/2008. 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 9043 funds, 3-year 9043 funds, 5-year 7238 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 8/31/08. Number of funds in category: Overall 648 funds, 3-year 648 funds, 5-year 471 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.

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).

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.