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Integrity Mutual Funds, Inc. Announces Results for Third Quarter 2003

Integrity Mutual Funds, Inc. (IMFD.OB), a mutual fund and financial services company, today reported net income of $50,041 for the third quarter of 2003, compared to net income of $30,323 during the same period in 2002. Diluted net income per share for the quarters ending Sept. 30, 2003 and Sept. 30, 2002 were $.00 (zero) per share. The company reported net income of $136,874 ($.01 per share) for the first nine months of 2003, compared to net income of $71,862 ($.01 per share) for the first nine months of 2002.

Revenues from continuing operations for the third quarter of 2003 were $3,572,409, compared to revenues from continuing operations of $3,744,753 during the same period in 2002. Revenues from continuing operations for the first nine months of 2003 were $10,046,610, compared to net income from continuing operations of $10,975,746 for the first nine months of 2002.

Integrity Mutual Funds, Inc. recorded net income from continuing operations of $54,357 for the third quarter of 2003, compared to net income from continuing operations of $45,724 for the same period in 2002. Diluted net income per share from continuing operations for the quarters ending Sept. 30, 2003 and Sept. 30, 2002 were $.00 (zero) per share. Net income from continuing operations for the first nine months of 2003 was $144,855 ($.01 per share), compared to net income from continuing operations of $95,129 ($.01 per share) for the same period in 2002.

Integrity Mutual Funds, Inc. has assets under management of $350 million and is publicly traded over the OTC Bulletin Board under the symbol IMFD.OB. With its subsidiaries, Integrity Money Management, Inc., Integrity Fund Services, Inc., Ranson Capital Corporation, and ND Capital, Inc., the firm sponsors, manages, and advises 14 mutual funds. These include six equity funds, an income fund, and state specific tax-exempt municipal bond funds in Montana, North Dakota, South Dakota, Nebraska, Kansas, and Oklahoma. 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 in parts of the Midwest and California. The Integrity Funds are distributed by Ranson Capital Corporation and ND Capital, Inc. More information is available at www.integritymf.com or by calling 800/276-1262.

Contact: Mark Anderson at 701-852-5292

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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