SOURCE: Nexia Holdings, Inc.

November 24, 2008 06:00 ET

Nexia Closes $2.15 Million Real Estate Sale

SALT LAKE CITY, UT--(Marketwire - November 24, 2008) - Nexia Holdings, Inc. (OTCBB: NXHD) announced that its subsidiary Wasatch Capital Corporation closed upon the sale of the Wallace/Bennett Buildings located at 59 West 100 South, Salt Lake City, Utah. The total sales price was $2,150,000. Wasatch owed approximately $1,145,000.

CEO Richard Surber stated, "The sale of the historic property will provide much needed liquidity to propel Nexia forward with its future plans. The cash proceeds may be spent to accomplish the following:

--  Complete our S-1 Registration for an equity line of credit up to $10M.
--  File a Form 10 on Nexia's salon subsidiary Green Endeavors Ltd.
    (PINKSHEETS: GRNE) in preparation for the long awaited spin off to Nexia
    shareholders.
--  Retain our talented staff.
--  General working capital."
    

Mr. Surber continued, "Being able to have the cash resources from the sale of the building during this historic credit crunch will be one of the events that may allow Nexia to effectively pursue the acquisition of substantial sums of residential real estate under its acquisition strategy. The above bullets are key stepping stones to carrying out the acquisition strategy. The current real estate and credit meltdown may provide a tremendous 'value investment' opportunity for Nexia and its shareholders."

About Nexia Holdings, Inc.

Nexia Holdings, Inc. (OTCBB: NXHD), headquartered in Salt Lake City, Utah, is a diversified holdings company with operations in real estate, health & beauty, and fashion retail. Nexia owns a majority interest in Landis Lifestyle Salon, www.landissalons.com, a hair salon built around the world-class AVEDA™ product line. Through its Style Perfect, Inc. subsidiary, Nexia owns the innovative retail and design firm Black Chandelier and its related brands. Black Chandelier currently operates one retail location and online store at www.blackchandelier.com. For more information, visit http://www.nexiaholdings.com.

Nexia strongly encourages the public to read the above information in conjunction with its Form 10-K for December 31, 2007. For specific details on the sale of the Wallace/Bennett Building, please refer to the Form 10Q for the period September 30, 2007. Please refer to the Form 8K filed on October 6, 2007, for a complete version of Nexia's Real Estate Acquisition Strategy. These other disclosures can be viewed at www.nexiaholdings.com and www.sec.gov