SOURCE: Nu Image MedSpa

July 07, 2005 07:15 ET

Atlanta Entrepreneurs Select Nu Image MedSpa for Jacksonville, Florida Franchise

Winsted Holdings Awarded $5,000 Equity Bonus for Its Pivotal Role

NEWPORT BEACH, CA -- (MARKET WIRE) -- July 7, 2005 -- Winsted Holdings, Inc. (OTC BB: WHLI), a Business Development Company (BDC), is pleased to announce that in addition to the $10,000 in equity payment for its monthly consulting fee, Nu Image MedSpa Inc. of Las Vegas, Nevada, has awarded Winsted a $5,000 equity bonus for the successful signing of an entrepreneurial couple who will open a new franchise in Jacksonville, Florida.

From seashore to forest, nurtured by the majestic St. Johns River, Jacksonville, Florida, is the largest city in the contiguous United States in land area covering 841 square miles (14th largest in population with more than 800,000 residents and over 1,000,000 including metro). It's also a major port, the insurance and financial center of the state, site of U.S. Navy bases and the home of the National Football League's Jacksonville Jaguars. Although Jacksonville took its place on the world stages as the host of Super Bowl XXXIX (Philadelphia Eagles vs. the New England Patriots) in February 2005, it's still a big city with small-town heart and hospitality. It is a town where a Nu Image MedSpa will flourish.

"This is the second harvest of my cross-country labor announced on June 2, 2005," stated Winsted CEO Mark Ellis. "As I've stated, Nu Image flew me across the country to get a couple of deals done and to locate suitable sites for new franchisees. The first fruit of that cross-country labor was the successful buyout of Charlotte Laser Center. This second success resulted in the signing of a new franchisee in Jacksonville, Florida. Our anticipation is that more success will stem from that single trip."

"Nu Image is a valuable equity cow for us. In addition to the monthly consulting fee of $10,000 in equity ($40,000 for April through July), we also were paid $10,000 in equity for Charlotte (Charlotte Laser Center) and now $5,000 for Jacksonville. The normal $5,000 bonus award for each buyout or new franchisee was previously announced June 2, 2005. Given our current low market cap along with our quickly growing equity stake in Nu Image, our stake in Nu Image alone will soon eclipse our entire market cap. And yes, we're still in active merger talks. Our strategy is to build up equity which will reduce the amount of dilution needed for the buyout," concluded Ellis.

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. (OTC BB: WHLI) 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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