Company News

SRT Acquires Magic Internet Services, Inc.

June 26,2003

SRT Communications, Inc. and Integrity Mutual Funds, Inc. (OTCBB-IMFD), both of Minot, ND, have announced the sale of all shares of Magic Internet Services, Inc. to SRT, effective June 26, 2003. Integrity Mutual Funds is the majority owner of Magic Internet Services.

Robert E. Walstad, Chairman and CEO of Integrity Mutual Funds, Inc., stated: “The sale of Magic Internet Services will enable us to concentrate more fully on our core business of investment management and retail brokerage. SRT is the ideal organization to assume this business, as they are already providing similar excellent services to customers in this region.”

SRT’s CEO Steve Lysne said “We welcome Magic Internet’s customers into the SRT family. We look forward to continuing the high level of service that Magic Internet and SRT customers have come to expect.”

About Magic Internet Services, Inc.
  • Magic Internet Services provided a variety of Internet and Broadband services to approximately 2,200 customers.
  • Magic Internet Services was owned by Integrity Mutual Funds, Inc. (51 percent), Joseph E. Uhrmacher, and Steven M. Murphy.

    About SRT Communications, Inc.
  • SRT provides Internet and Broadband DSL services to over 11,500 customers.
  • SRT is North Dakota’s largest telecommunications cooperative and provides telecommunication services in 10 counties in north central North Dakota.
  • For more information about SRT and it’s services, please visit www.srt.com.


Contacts:

Christine MorsfieldMark Anderson
Corporate Communications DirectorIntegrity Mutual Funds, Inc.
SRT Communications, Inc.701-852-5292
701-858-1200
christm@srttel.com

The Integrity Funds are sold only to persons residing in the United States and are offered by prospectus only. For more complete information about any of the Integrity Mutual Funds, investors should consider the investment objectives, risks, charges and expenses of each fund carefully before investing. The prospectus includes this and other information about each fund. Investors may obtain the applicable prospectus from their financial advisor or from our website at www.integritymf.com. Please read the prospectus carefully before you invest or send money.




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