SOURCE: Winsted Holdings

August 17, 2005 07:00 ET

Nu Image Medspa Announces Expansion Plans

Emerging Franchise Adds New Locations From California to Florida

NEWPORT BEACH, CA -- (MARKET WIRE) -- August 17, 2005 -- Winsted Holdings, Inc. (OTC BB: WHLI), a Business Development Company (BDC), is pleased to announce that it is spearheading efforts to expand the highly successful Nu Image Medspa franchise, a portfolio company of Winsted, to six additional locations. Under its comprehensive management consultant agreement, Winsted Holdings will assist new franchises located in Huntington Beach (California), San Diego (California), Las Vegas (Nevada), Boca Raton (Florida), Orlando (Florida), and Tampa (Florida). The company anticipates signing completed agreements for these locations in the near future, with each location resulting in revenue of $58,500. As a whole, the new franchises offer Winsted a $351,000 opportunity.

"Success breeds success," stated Winsted Holdings CEO, Mark Ellis. "BareSkin and Charlotte Laser Centers were such successes that Nu Image MedSpa is leveraging those success stories into sales. With its summer discovery days exceedingly popular, signings and potential signings are coming in from all over the country. Winsted will be central to the process of supporting these new franchises and achieving the rapid growth we've already seen using the BareSkin/Charlotte blueprint."

Ellis concluded, "We are making a name for ourselves and Nu Image MedSpa as a force to contend with in the medspa industry. According to the 2004 ISPA Spa Industry Study, US revenues for the spa industry exceed $11.1B yearly. The spa industry remains the fourth largest leisure industry in the US, as revenues continue to surpass those of two very well-known industries -- amusement/theme parks and motion picture box office. Each day and new endeavor brings our company continued growth, and we believe Winsted will accordingly provide greater and greater value for our shareholders. Entrepreneurial people who are looking to capitalize on the exploding medspa industry are inevitability going to want to work with a premiere, rapidly expanding firm that knows the industry inside and out. We faithfully feel that Winsted is the logical choice."

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. 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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