SOURCE: Nexia Holdings, Inc.

December 18, 2008 08:30 ET

Nexia Assembles New Real Estate Acquisition Team

SALT LAKE CITY, UT--(Marketwire - December 18, 2008) - Nexia Holdings, Inc. (OTCBB: NXHD), a diversified holdings company with operations in real estate, health & beauty, and fashion retail announced today that Wasatch Capital Corporation, a subsidiary of Nexia's, has appointed new officers to manage the real estate operations that will be expanding under Wasatch's ownership.

Richard Surber, CEO of Nexia Holdings, commented, "The team that Nexia is assembling will be key to our future success as a real estate holdings company. These professionals will take Nexia in a new direction. I have a high level of confidence in all three new officers of Wasatch Capital Corporation."

The appointments are as follows: Casey J. Coleman as President, Corey Vandenberg as Vice President, and William Pettet as Secretary/Treasurer. All of these appointments are effective immediately.

Casey J. Coleman, the new President, has been heavily involved in the real estate market for more the 15 years. He has worked as a Realtor and has helped numerous investors buy and sell properties from single family properties to multi-unit apartments. For almost five years Casey was owner and CEO of Rental Finders, one of the largest property management companies in Salt Lake City. Mr. Coleman has recent experience managing a real estate portfolio in excess of $10 million and he will use his expertise to effectively manage Nexia's growing real estate holdings.

Corey Vandenberg, the new Vice President, has been involved in real estate investing and consulting since 1998. As a consultant with Foreclosure Rescue Services, he has helped thousands of homeowners avoid foreclosure, save their personal residences, and preserve their equity and credit rating. Corey founded Utah Foreclosure Advocates in 2002, offering a free service to homeowners that sought to obtain favorable work out conditions to avoid the loss of a home to foreclosure. These activities have created a substantial network in the industry that includes loss mitigation companies, bankruptcy trustees, and legal counsel; all helpful in avoiding the pitfalls of foreclosure.

William Pettet, the new Secretary/Treasurer, has worked in the real estate industry since 1999 as an investor, consultant, and mortgage professional. He has founded several successful real estate businesses including Wasatch Investment Properties and Credit Solutions, LLC. In 2007 he became the Vice President and CFO of Trinity Financial Services, a Utah mortgage broker.

With the record number of foreclosures, banks have a swelling portfolio of Real Estate Owned properties. Nexia/Wasatch is working with employees at various local and regional banks to begin discussions about purchasing a portion of those assets.

Wasatch is also talking with numerous individual investors who purchased real estate during the recent market boom. Generally these investors have homes in the Salt Lake City Utah market that ranges from 5 homes to 100+ homes. With the changing real estate market, many of these investors see Nexia as a strong exit strategy to liquidate their portfolios.

About Nexia Holdings, Inc.

Nexia Holdings, Inc., headquartered in Salt Lake City, Utah, is a diversified holdings company with operations in real estate, health & beauty, and fashion retail. The Company has been acquiring undervalued properties in the Salt Lake City area since the early 1990s. Nexia owns a majority interest in Landis Lifestyle Salon, www.landissalons.com, and operates one Black Chandelier retail location and an online store at www.blackchandelier.com. For more information, visit www.nexiaholdings.com.