SOURCE: Winsted Holdings

January 27, 2006 08:50 ET

North Carolina Entrepreneur Signs Nu Image MedSpa Franchise and Area Development Agreements

First of 3 Medspas to Be Located in Prestigious SouthPark District of Charlotte

LAS VEGAS, NV -- (MARKET WIRE) -- January 27, 2006 -- Winsted Holdings, Inc. (OTC BB: WNSH), formerly (OTC BB: WHLI) a Business Development Company (BDC), and Nu Image MedSpa Inc. of Las Vegas, Nevada, jointly announced that an entrepreneur from Charlotte, North Carolina, has signed both a Franchise and Area Development agreement. The first of 3 new medspas will be located near the SouthPark Mall (http://www.simon.com/mall/mall_info.aspx?ID=788).

Set in the heart of prestigious SouthPark, just 15 minutes from uptown Charlotte, North Carolina, the new medspa will combine a trend-setting spa-like facility and Southern charm in a fashionable neighborhood locale for the best skin care experience ever. This posh area is known as the "Shopping Mecca of Charlotte," enjoying access to more than 150 upscale retailers (from Tiffany's and Louis Vuitton to Nordstrom to Bombay Company) and over 50 restaurants -- all within a one-mile radius. Easily accessible to I-77 and I-85 via Twola Road and Woodlawn Road, it's also about 20 minutes from Charlotte Douglas International Airport. Aside from a huge base of shoppers for potential customers, other sources of customers can be drawn from nearby notable companies such as Nucor, Piedmont Natural Gas, Coca Cola, National Gypsum, BASF, Sonic Automotive, Wachovia Bank, Nextel and Lowe's.

"Nu Image's Charlotte Laser Center has been a magnet for attracting customers and new franchisees," stated Winsted CEO Mark Ellis. "Once a potential customer or potential franchisee visits the Center and sees the high volume and high quality of service provided, the Center sells itself. As a business, it is more than just a beautiful medspa. When you peel back the outer layers of beauty and highly trained staff, franchisees have found a model of effectiveness and efficiency. Anyone can copy a floor plan and front-office, but without the knowledgeable back-office support and industry expertise, all they will have is an expensive pretty package with not much else to show for it."

Ellis further stated, "As a major shareholder and management consultant to Nu Image Medspa, Winsted takes great pride in assisting Nu Image MedSpa with the wrapping and providing back-office support. Potential franchisees like the look of the medspas and love to own a potential money making medspa that is supported by folks who have owned medspas. We can talk the talk and walk the walk. It is this ability to draw on real life medspa experiences that attracts franchisees to Nu Image Medspa."

About Nu Image MedSpa Inc.

At Nu Image MedSpa, not only are our customers treated with the best that technology has to offer, they also get expert consultations from our skilled medical staff. Our trend-setting spa-like facilities, combined with our friendly staff, are all you need for the best skin care experience ever. Our facilities offer FDA-approved procedures like Botox, Restylane, Laser Hair Removal, IPL-Skin Rejuvenation, Microdermabrasion, Chemical Peels, Collagen and Leg Vein Treatment. We work only with the most advanced laser equipment to achieve your desired results. Our medical staff is one of our most valued assets and they are trained in a culture of warmth, friendliness and customer service. Everything at the MedSpa is designed with your comfort and convenience in mind, even our business hours, which are flexible to adjust to your needs. Making you look good and feel good is what we are here for!

The Nu Image MedSpa franchise business development program allows the investor to easily participate in one of the fastest growing and most lucrative sectors of the healthcare industry. Nu Image is committed to continually setting the highest levels of excellence and innovation for our clients. Medical Spas are fast becoming the facility of choice among women and men seeking rejuvenating skin care procedures. For more information about Nu Image MedSpa visit http://www.nuimagemedspas.com.

About Winsted Holdings, Inc.

Winsted Holdings Inc. (WHLI.OB) is a Business Development Company (BDC) located in Newport Beach, California. BDCs are publicly traded, closed-end investment companies regulated by the Investment Company Act of 1940. The Company was founded on the premise that combining both operational talent and financial talent within a single private equity investment firm can significantly enhance the magnitude and consistency of investment returns. Winsted Holdings' team consists of accomplished financial professionals with experience at prestigious financial institutions, seasoned corporate executives from various industry enterprises and successful entrepreneurs with expertise developed in aspects from business development to capital markets and from sales and marketing to technology development. The Company currently has two wholly owned subsidiaries, Spencer Communications Inc. and MedSpa Solutions Inc. Over the coming months, the Company will outline its ever changing portfolio holdings and its plans for the long-term medspa expansion.

Statements made in this press release regarding the Company's or management's intention, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to compete effectively in a rapidly evolving and price competitive marketplace; possible reductions in demand for our products and services due to competition or changes in industry conditions; changes in the nature of medspa and telecommunications regulations in the United States and other countries; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; and other risks referenced from time to time in the Company's filings with the Securities and Exchange Commission.

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