Source: Summit Financial Printing LLC

KENT FINANCIAL SERVICES Announces Second Quarter Results

FAR HILLS, NJ--(Marketwire - August 11, 2008) - KENT FINANCIAL SERVICES, INC. ("Kent") (NASDAQ: KENT) reported a net loss for the three months ended June 30, 2008 of $68,000 or $.02 per share, compared to a net loss of $147,000, or $.05 per share, for the comparable period in 2007. For the six months ended June 30, 2008 the net loss was $133,000, or $.05 per share, compared to a net loss of $200,000, or $.07 per share, for the comparable period in the prior year.

Kent has 2,792,022 shares outstanding.

This release contains forward-looking statements which may involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results and performance in future periods to be materially different from any future results or performance suggested by these statements. Kent Financial Services cautions investors not to place undue reliance on forward-looking statements, which speak only to management's expectations on this date. Per share earnings reported in the text of the news release are fully diluted earnings per share.

                       KENT FINANCIAL SERVICES, INC.
                   CONSOLIDATED STATEMENTS OF OPERATIONS
                   (IN THOUSANDS, EXCEPT PER SHARE DATA)
                                (UNAUDITED)

                             Three Months Ended        Six Months Ended
                                  June 30,                 June 30,
                          ------------------------  -----------------------
                             2008         2007         2008        2007
                          ----------   ----------  ----------  -----------
Revenues:
  Seminar fees            $       65   $      124   $     134   $      231
  Interest                        87          157         183          316
  Investing gains (losses)                      7          (1)           7
  Other income                     9           19          80          120
                          ----------   ----------  ----------  -----------

    Total revenues               161          307         396          674
                          ----------   ----------  ----------  -----------

Expenses:
  General and administrative     230          482         553          909
  Write off capitalized
   software costs                              38                       38
                          ----------   ----------  ----------  -----------

    Total expenses               230          520         553          947
                          ----------   ----------  ----------  -----------

Loss before income taxes
 and minority interest           (69)        (213)       (157)        (273)
Provision for income
 tax benefit (expense)            (1)          10          (2)
                          ----------   ----------  ----------  -----------

Loss before minority
 interest                        (70)        (203)       (159)        (273)
Minority interest in
 subsidiaries losses               2           56          26           73
                          ----------   ----------  ----------  -----------

Net loss                         (68)        (147)       (133)        (200)

Other comprehensive loss:
  Unrealized gain (loss)
   on available for sale
   securities                     (3)           3         (12)           1
                          ----------   ----------  ----------  -----------

Comprehensive loss        $      (71)  $     (144)  $    (145)  $     (199)
                          ==========   ==========  ==========  ===========


Basic and diluted net
 loss per common share    $    (0.02)  $    (0.05)  $   (0.05)  $    (0.07)
                          ==========   ==========  ==========  ===========

Weighted average number
 of common shares
 outstanding (in 000's)        2,792        2,794       2,792        2,796
                          ==========   ==========  ==========  ===========




                   CONDENSED CONSOLIDATED BALANCE SHEETS
                 AS OF JUNE 30, 2008 AND DECEMBER 31, 2007
                              (IN THOUSANDS)

                                             June 30, 2008   December 31,
                                              (Unaudited)        2007
                                            ---------------  -------------
ASSETS

Current Assets:
  Cash and cash equivalents                 $           760  $         135
  Short-term investments                             11,566         12,270
  Marketable securities                                 101            117
  Other current assets                                   61            116
                                            ---------------  -------------

    Total current assets                             12,488         12,638

Property and equipment, net                              29              6

Other assets                                             16             62
                                            ---------------  -------------

    Total assets                            $        12,533  $      12,706
                                            ===============  =============


LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities                         $           240  $         269
Noncurrent liabilities                                  711            685

Minority interest in subsidiaries                     5,058          5,083

Stockholders' equity                                  6,524          6,669
                                            ---------------  -------------

    Total liabilities and stockholders'
     equity                                 $        12,533  $      12,706
                                            ===============  =============

Contact Information: Direct Inquiries To: Paul O. Koether Chairman (908) 766-7221