SOURCE: Sleep Holdings, Inc.

January 23, 2007 09:00 ET

Allen and Company Enters Negotiations to Provide Additional Expansion Capital

Additional Capital Proposal Could Ignite Company's Growth Strategy

DALLAS, TX -- (MARKET WIRE) -- January 23, 2007 -- SLEEP HOLDINGS, INC. (PINKSHEETS: SLHJ) -- Sleep Holdings, Inc. announces it has entered into a contract with Dallas investor Gary Allen. Allen and Elan Equities Corp. of Europe have jointly agreed to provide additional expansion capital to the company.

THE CONTRACT IS SUBJECT TO NORMAL BUSINESS CONTINGENCIES AND DUE DILIGENCE THAT SHOULD BE COMPLETED IN THE NEXT 30 DAYS.

Mr. Allen was prior Executive Vice President of Sleep Holdings, Inc.

About Sleep Holdings, Inc.

Sleep Holdings provides innovative solutions to patients suffering from sleep disorders. The Company's goal is to provide the highest standard sleep studies, medical directorship, patient education, and therapeutic recommendations in order to assist patients with an overall improved quality of life.

Sleep Holdings is a healthcare service provider focused on the rapidly growing market of sleep medicine. The Company is seeking out prospective sellers of sleep diagnostic centers in various markets within the United States and is developing relationships necessary to acquire and fully develop sleep diagnostic centers.

Sleep holdings, Inc. is a registered trademark. Other product or service names mentioned herein are the trademarks of their respective owners.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by safe harbors created hereby. Such forward-looking statements involve known and unknown risks and uncertainties.

Contact Information

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    Investor Relations
    Sleep Holdings, Inc.
    214.446.9300