Manitou Capital Announces Increased Earnings for the Nine Months Ended September

Manitou had earnings of $241,103 ($0.0169 per share) for the nine months ended September 30, 2007, as compared to a loss of $129,468 ($0.0091 per share) for the nine months ended September 30, 2006.

The earnings for the nine month period ended September 30, 2007 include a tax benefit recorded in the quarter ended September 30, 2007 of $170,000 related to tax loss carry-forwards in Manitou's subsidiary. Without this tax benefit, Manitou's earnings after minority interest would have been $136,230 ($0.0095 per share). The loss for the earlier nine month period includes hiring expenses of $164,000 and severance costs of $167,000. Absent the hiring and severance costs Manitou would have had a profit after minority interest for the nine months ended September 30, 2006 of $74,726 ($0.0052 per share).

For the three months ended September 30, 2007 Manitou had earnings of $158,646 ($0.0111 per share) as compared to earnings of $58,479 ($0.0041 per share) for the three months ended September 30, 2006. Without the tax benefit of $170,000, Manitou's earnings for the three months ended September 30, 2007 would have been $53,773 ($0.0038 per share).

Manitou shares are listed for trading on the TSX Venture Exchange under the symbol MOU.

                        MANITOU CAPITAL CORPORATION                           FINANCIAL HIGHLIGHTS                                       Three Months          Three Months                                              Ended                 Ended                                 September 30, 2007    September 30, 2006                                 ------------------    ------------------Revenue                                    $610,044              $688,526Earnings                                   $158,646               $58,479Earnings per share                          $0.0111               $0.0041                        MANITOU CAPITAL CORPORATION                                        Nine Months           Nine Months                                              Ended                 Ended                                 September 30, 2007    September 30, 2006                                 ------------------    ------------------Revenue                                  $1,831,213            $2,072,424Earnings/(Loss)                            $241,103             $(129,468)Earnings/(Loss) per share                   $0.0169              $(0.0091)

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.