Company News

Integrity Mutual Funds, Inc. Announces Fourth Quarter and Year-End 2002 Earnings

Monday March 17, 11:00 AM EST

Integrity Mutual Funds, Inc. (OTC Bulletin Board: IMFD), a mutual fund and financial services company, today reported net income of $326,450 for the fourth quarter of 2002, compared to a net loss of $119,273 for the same quarter in 2001.

Operating revenues for the fourth quarter were $3,589,431 compared to $2,003,110 for the same period a year ago. Diluted earnings per share for the quarter ending December 31, 2002 were $.02 compared to a loss per share of $.01 for the same period in 2001.

In year-end results, Integrity Mutual Funds, Inc. reported operating revenues of $14,980,949 for 2002, compared to $8,167,724 in 2001. Net income totaled $398,311 in 2002, compared to a net loss of $299,828 in 2001. Diluted earnings per share were $.03 in 2002 compared to a loss per share of $.02 in 2001.

Integrity Mutual Funds, Inc. has assets under management of $293 million and is publicly traded over the OTC Bulletin Board under the symbol IMFD. With its subsidiaries, ND Capital, ND Money Management, ND Resources, and Ranson Capital Corporation, the firm sponsors, manages, and advises nine mutual funds. These include state-specific tax-exempt municipal bond funds in Montana, North Dakota, South Dakota, Nebraska, Kansas, and Oklahoma. The firm also sponsors two equity fund of funds that invest in stock mutual funds managed by other firms. IMFD also owns ARM Securities Corporation, a broker- dealer with mutual fund and insurance product distribution in several Midwest states and California, and 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.

SOURCE Integrity Mutual Funds, Inc.

CONTACT: Robert Walstad of Integrity Mutual Funds, Inc., +1-701-852-5292 (IMFD)

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 Please read the prospectus carefully before you invest or send money.

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