SOURCE: Nexia Holdings, Inc.

Nexia Holdings, Inc.

August 18, 2009 17:00 ET

Nexia Signs Contract to Acquire Revel Entertainment

SALT LAKE CITY, UT--(Marketwire - August 18, 2009) - Nexia Holdings, Inc. (PINKSHEETS: NXHD), announced that it has signed an agreement to acquire a 100% interest in Revel Entertainment, LLC from Ben Gourley. Revel Entertainment has played a role in producing independent films, such as "Moving McAllister" that is currently playing on Showtime, as well as "Repo," a new film which is expected to debut at the San Diego Film Festival this year.

Mr. Richard Surber, CEO of Nexia commented, "I am very excited to have the opportunity to enter the independent film industry with individuals that have a proven track record of success." Revel currently owns an action film written by Ben Gourley. The script is a high intensity action film set to film in Utah. Revel anticipates shooting to begin in late October of this year.

Revel's managing member, Ben Gourley, is emerging as a genuine multi-talented force in Hollywood with writing, producing, acting, and directing all on his resume. Gourley will make his directorial debut, as well as writing and starring in his new film "Repo," the story of two friends who want out of the repo business and hatch a harebrained scheme to steal all the cars they've repossessed. The film stars Ben Gourley, Jason Mewes, Izabella Miko, and Lindsey McKeon and will be released later this year.

Mr. Gourley was the creative giant behind Magnolia Pictures' "Moving McAllister," which he wrote, produced, and starred in with Mila Kunis, Jon Heder, and Rutger Hauer. Other films in which Gourley has acted include "Love and Mary," "Pride and Prejudice," and "Saints and Soldiers," the last of which won numerous film festival awards and was nominated for the Independent Spirit Award. Gourley has also appeared on the small screen in the ABC TV movie, "Everything You Want."

About Nexia Holdings, Inc.:

Nexia Holdings, Inc. (PINKSHEETS: NXHD), headquartered in Salt Lake City, Utah, is a diversified holdings company with operations in health & beauty and real estate. Nexia's subsidiary, Green Endeavors, LTD (PINKSHEETS: GRNE), www.green-endeavors.com, owns a majority interest in Landis Salons, Inc., www.landissalons.com, a hair salon built around the world-class AVEDA™ product line. For more information, visit www.nexiaholdings.com.

Nexia strongly encourages the public to read the above information in conjunction with its Form 10-K for December 31, 2007 and the subsequent quarterly filings and disclosures in 2008 and 2009. Nexia's disclosures can be viewed at www.nexiaholdings.com, www.sec.gov, and www.pinksheets.com. Nexia ceased being a fully reporting company in April 2009.