Midas Announces June 29, 2009 Distribution Payments

NEW YORK, NY--(Marketwire - July 6, 2009) - Midas Fund, Inc. (NASDAQ: MIDSX) and Midas Perpetual Portfolio, Inc. (NASDAQ: MPERX) today announced the following per share distribution payments on June 29, 2009 to shareholders of record on June 26, 2009:

Fund                                        Distribution per Share
Midas Fund                                  Ordinary income of $0.0425
                                            No capital gain distribution

Midas Perpetual Portfolio                   Ordinary income of $0.008
                                            No capital gain distribution

The distribution for Midas Fund represents ordinary income earned in fiscal 2008. The distribution for Midas Perpetual Portfolio represents short term capital gains earned in fiscal 2008 and 2009. All taxable shareholders will receive written notification in 2010 on Form 1099-DIV regarding the components and tax treatment for all 2009 distributions.

The distributions were reinvested in your account or paid out in cash, according to the instructions associated with your account. Please call us at 1-800-400-MIDAS (6432) if you have any questions or would like further information.

The Midas Funds are managed by Midas Management Corporation, a subsidiary of Winmill & Co. Incorporated, which is engaged through subsidiaries in stock market and gold investing through its investment management of equity and gold mutual funds. To learn more about the Midas Funds, please visit www.MidasFunds.com.

Contact Information: Contact: Midas Funds Shareholder Services 1-800-400-MIDAS (6432) www.MidasFunds.com