KENT Kent Financial Services, Inc. (MM)

KENT FINANCIAL SERVICES, INC. ("Kent") (NASDAQ: KENT) reported a net loss for the three months ended March 31, 2009 of $106,728 or $.04 per share, compared to a net loss of $64,640, or $.02 per share, for the comparable period in 2008.

Kent has 2,759,193 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
                               (Unaudited)

                                                      Three Months Ended
                                                          March 31,
                                                    ----------------------
                                                       2009        2008
                                                    ----------  ----------
Revenues:
  Seminar fees                                      $  110,283  $   69,798
  Interest and dividends                                 7,583      95,209
  Realized gains (losses)                               10,034        (660)
  Other income                                           2,479      69,827
                                                    ----------  ----------

    Total revenues                                     130,379     234,174

Expenses:
  General and administrative                           251,859     322,159
                                                    ----------  ----------

Loss before income taxes and minority interest        (121,480)    (87,985)
Provision for income taxes                              (1,613)     (1,110)
                                                    ----------  ----------

Net loss                                              (123,093)    (89,095)
Add: net loss attributable to noncontrolling
 interest                                               16,365      24,455
                                                    ----------  ----------

Net loss attributable to Kent Financial Services
 shareholders                                         (106,728)    (64,640)

Other comprehensive loss:
  Unrealized loss on available for sale securities     (19,433)     (8,879)
                                                    ----------  ----------

Comprehensive loss                                  $ (126,161) $  (73,519)
                                                    ==========  ==========

Basic and diluted net loss per common share         $    (0.04) $    (0.02)
                                                    ==========  ==========


Weighted average number of common shares
 outstanding                                         2,759,293   2,792,022
                                                    ==========  ==========


                  CONDENSED CONSOLIDATED BALANCE SHEETS
                AS OF MARCH 31, 2009 AND DECEMBER 31, 2008


                                                   March 31,
                                                     2008      December 31,
                                                  (Unaudited)      2007
                                                  ------------ ------------
ASSETS

Current Assets:
  Cash and cash equivalents                       $  1,788,910 $  1,990,753
  Short-term investments                            10,095,620   10,090,292
  Marketable securities                                 51,017       70,450
  Other current assets                                 141,191       70,664
                                                  ------------ ------------

    Total current assets                            12,076,738   12,222,159

Property and equipment, net                             20,387       21,618
Other assets                                            16,000       16,000
                                                  ------------ ------------

    Total assets                                  $ 12,113,125 $ 12,259,777
                                                  ============ ============

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities                               $    288,188 $    292,314
Noncurrent liabilities                                 720,000      720,000
                                                  ------------ ------------

    Total liabilities                                1,008,188    1,012,314
                                                  ------------ ------------

Kent Financial Services shareholders' equity         6,155,486    6,281,647
Noncontrolling interest in subsidiaries              4,949,451    4,965,816
                                                  ------------ ------------

    Total stockholders' equity                      11,104,937   11,247,463
                                                  ------------ ------------

    Total liabilities and stockholders' equity    $ 12,113,125 $ 12,259,777
                                                  ============ ============

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