Midas Fund Distribution Estimate

NEW YORK, NY--(Marketwire - December 26, 2008) - Midas Fund (NASDAQ: MIDSX) will be paying a year end distribution. The distribution is scheduled with a record date of December 30, 2008 and an ex-date and payable date of December 31, 2008. At this time, the distribution per outstanding share is as follows:

              Ordinary income between $0.08 and $0.11
              No capital gain distribution

This is a preliminary estimate and may change between now and December 31, 2008, the ex-date. A precise amount of distribution cannot be determined at this time because the income to be distributed is subject to change and the record date number of shares outstanding cannot be determined until December 30, 2008.

The distribution will be reinvested or paid out in cash according to the instructions associated with each shareholder's account.

Midas Fund is managed by Midas Management Corporation, a subsidiary of Winmill & Co. Incorporated (WNMLA), which is engaged in stock market and gold investing through its investment management of equity and gold mutual funds. The open end mutual funds are Midas Fund, Inc. (MIDSX), Midas Special Fund, Inc. (MISEX), and Midas Dollar Reserves, Inc. (DOLXX). The closed end funds are Foxby Corp. (FXBY) and Global Income Fund, Inc. (GIFD). To learn more about the Midas Funds, please visit www.MidasFunds.com.

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