Manitou Capital Announces Increased Earnings for the Nine Months Ended September

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

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

For the three months ended September 30, 2007 Manitou hadearnings of $158,646 ($0.0111 per share) as compared toearnings of $58,479 ($0.0041 per share) for the three monthsended September 30, 2006. Without the tax benefit of $170,000,Manitou's earnings for the three months ended September30, 2007 would have been $53,773 ($0.0038 per share).

Manitou shares are listed for trading on the TSX VentureExchange 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 disapprovedof the information contained herein.