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Integrity Mutual Funds, Inc. Announces Fourth Quarter and Year End 2004 Results

Contact: Robert Walstad or Mark R. Anderson 701/852-5292

MINOT, NORTH DAKOTA (March 30, 2005) --Integrity Mutual Funds, Inc. (IMFD.OB), a mutual fund and financial services company, today reported a net loss of $129,350 ($.01 per share) for the fourth quarter of 2004, compared to net income of $44,671 ($.00 per share) during the same period in 2003. The Company reported a net loss from continuing operations of $129,350 ($.01 per share) for the fourth quarter of 2004, compared to net income from continuing operations of $44,671 ($.00 per share) during the same period in 2003.

The Company reported net income of $135,119 ($.00 per share) for the year ended December 31, 2004, compared to net income of $181,545 ($.01 per share) during the same period in 2003. The Company reported net income from continuing operations of $135,119 ($.00 per share) for the year ended December 31, 2004, compared to net income from continuing operations of $189,526 ($.01 per share) during the same period in 2003. The decreases are primarily due to a significant investment in distribution and marketing related expenses made by the Company, including the hiring of a national sales manager and several new wholesalers.

Revenues from continuing operations for the fourth quarter of 2004 were $4,295,738, compared to revenues from continuing operations of $3,909,564 during the same period in 2003. Revenues from continuing operations for the year ended December 31, 2004 were $16,990,571, compared to revenues from continuing operations of $13,956,173 during the same period in 2003. The increases are due primarily to three mutual fund acquisitions and restructuring efforts completed in 2003.

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 17 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 in parts of the Midwest and California. More information is available at www.integritymf.com or by calling 800/276-1262.




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