SOURCE: Winsted Holdings

June 23, 2005 06:05 ET

MedSpa Solutions Awarded Contract by Mission Viejo Entrepreneurs

Winsted Forecast 2nd Quarter Cash Revenue to Exceed $150,000

NEWPORT BEACH, CA -- (MARKET WIRE) -- June 23, 2005 -- Winsted Holdings, Inc. (OTC BB: WHLI), formerly (OTC BB: WNHL), a Business Development Company (BDC), is pleased to announce that its subsidiary, MedSpa Solutions Inc., was awarded a comprehensive consultancy contract by an entrepreneurial couple in Mission Viejo, California. This Contract covers Business Development, Site Design & Build out, Staffing & Training, Vendor Relationships, Licensing & Compliance Assistance and Custom Marketing Development. Separately, Winsted expects 2nd quarter (ending June 30, 2005) cash revenue to exceed $150,000 with another $60,000 in equity revenue from its Small Business Consultancy Services.

Mission Viejo, California, is located in South Orange County along I-5 (San Diego Freeway) and I-405. Nearly 25 years ago, the Mission Viejo Company bought a 10,000-acre section of Rancho Mission Viejo from the O'Neill family, which once owned much of the land from Oceanside to El Toro. Currently, over 96,000 people seeking "The California Promise" call the rolling hills of the valley their home. From The Shops at Mission Viejo (Saks Fifth Avenue, Nordstrom, Macy's, etc.) to Kaleidoscope Courtyards (unique retail, restaurant and entertainment options -- movie, day-spa, fitness club, etc.) and once home to a sea of grazing cattle, Mission Viejo meets our target market profile for a successful upscale medspa.

"Mission Viejo medspa will only be about 15 minutes away from the Nu Image Regional Operations & Training Center in Irvine," stated Winsted CEO Mark Ellis. "This is close enough for our medspa team (housed at the Center) to assist them with any needs as they arise. The close proximity will also allow the new client to have easy access to the Center. Additionally, this new client is within driving distance of many Nu Image medspas and will be able to see how others are prospering through opportunities along with overcoming challenges."

"Our sales pipelines are filling up with many qualified prospects. Some of them are in the research stage, while others have moved into the sign-up stage. This translates into a revenue stream filling up quickly from multiple pipeline outlets. As the current quarter close draws near, our total quarterly revenue should be over $200,000. The expectation for the next quarter, if this pace keeps up, is to book even a bigger and more cash rich quarter in Q3," concluded Ellis.

About MedSpa Solutions Inc.

MedSpa Solutions Inc. of Irvine, California is a wholly owned subsidiary of Winsted Holdings Inc. (WHLI.OB). Medical Spas are fast becoming the facility of choice among women and men seeking rejuvenating skin care procedures. At MedSpa Solutions Inc., 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, 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 spa 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!

MedSpa Solutions is committed to continually setting the highest levels of excellence and innovation for our clients. We are pioneers in the medspa industry and strive to bring the most advanced treatments and standards to each one of our spas and clients. For more information on the Consulting Services from MedSpa Solutions, please contact us at 1-888-968-4624 or email at info@medspasolutions.com. Additional information can also be found at http://www.medspasolutions.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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