Mentor Capital, Inc. Gains 135% and Calls in $3 Million Equity Tranche

(For Immediate Release, September 6, 2008)

SAN DIEGO, September 6, – Mentor Capital, Inc. (Pink Sheets: MNTR) closed up 135% for the week. The gain triggered the Call of a first tranche of equity that will deliver $3 Million in fresh capital to the Company.

Starting on August 29, 2008, at an initial P/E of 2.7x (Diluted Offer), MNTR finished its first week of trading at a $2.35/sh BID, which is a 135% over the initial authorized opening BID of $1.00/sh. A closing bid above $2.00 automatically obligated the Call of the $3 Million in outstanding Series A Warrants whose 90 day Call is officially noticed by this press release. Mentor Capital, Inc. currently has 216,852 shares issued and outstanding. In a rough order of magnitude comparison, the completion of the Call and receipt of $3 Million in new cash would approximately double the economic value of the Company. Three follow-on equity tranches are structured to provide further investment capital at increasing share price levels.

The capital structure and authority to raise $145 Million of public equity in four progressive steps is an overridingly important competitive advantage of the Mentor Capital, Inc. Comprehensive financial and corporate information, including capital structure detail critical to knowledgeable investment, may be found at the Company’s web site: www.MentorCapital.com. Detailed trading information and Level II quotes may be referenced at www.PinkSheets.com under the trading symbol MNTR.

Mentor Capital, Inc. is a rapidly evolving zero-fee, fund-of-funds. The Company has the equivalent of $13.5 Million in Assets Under Management (80% of $16.9 M) through its lead hedge fund before any newly Called capital is considered. The Company’s lead fund has returned 22% per year over the seven - years ending December 31, 2007.

Forward Looking Statements

SAFE HARBOR STATEMENT

Certain statements contained on this press release, including statements regarding events and financial trends that may affect MSAC future operating results, financial position, stock price and cash flows, may constitute forward-looking statements within the meaning of the federal securities laws. These statements are based on our assumptions and estimates and are subject to risks and uncertainties. You can identify these forward-looking statements by the use of words like "strategy," "expects," "plans," "believes," "will," "would", "estimates," "intends," "feels," "projects," "goals," "targets" and other words of similar meaning. Pro Forma projections of possible earnings per share to better understand the structure are uncertain. They represent just one out of a range of much better to much worse results, down to and including financial collapse, that are all possible. You can also identify these and other forward statements by the fact that they do not relate strictly to historical or current facts. For these statements, we claim the protection of the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995.

There are a number of risks associated with any investment with Mentor Capital, Inc. One large risk is that Mentor Capital is launching what looks like a large stepped secondary offering for a number of small private companies and funds under a common public umbrella. New listings, public offerings and acquisitions are all problematic and risky. Any investor seeking additional information on the company should reference the web sites listed above and call management at the phone numbers provided. Unless you understand Mentor Capital’s approach, strategy and capital structure, and feel comfortable because of long dealings or expert knowledge, don't invest your money here. There is a risk that you will lose 100% of your investment. As with any speculative venture, don't invest if you can't easily suffer a complete loss.

For further information contact:

Chet Billingsley, CEO

Mentor Capital, Inc.

P.O. Box 1709

Ramona, CA 92065

1(760) 788-4700

chet@mentorcapital.com