SOURCE: Winsted Holdings

February 16, 2006 08:45 ET

Nu Image MedSpa Looks to Canada for Additional Growing Space

NEWPORT BEACH, CA -- (MARKET WIRE) -- February 16, 2006 -- Winsted Holdings, Inc. (OTC BB: WNSH), a Business Development Company (BDC), and Nu Image MedSpa Inc. of Las Vegas, Nevada, jointly announced that Nu Image has received approval from Canada. The Company can now offer and sell franchises to prospective franchisees in Canada with the exception of Ontario and Alberta until other documents get filed. Nu Image MedSpa expects to receive full registration from the remaining two provinces in the near future.

Canada, federated country in North America, is made up of ten provinces and three territories. Canada is a vast nation with a wide variety of geological formations, climates, and ecological systems. It has rain forest, prairie grassland, deciduous forest, tundra, and wetlands. Canada has more lakes and inland waters than any other country. It is renowned for its scenery, which attracts millions of tourists each year. On a per-capita basis, its resource endowments are the second richest in the world after Australia. Canada's prosperity and diversity have encouraged a variety of artistic pursuits. Most major cities have symphony orchestras, opera companies, classical and modern dance groups, and live theater. It has been approximated that by 2070, Canada's population will double from 30 million to 60 million people.

"Canada is the second largest country in the world with close to 4 million square miles of area," stated Winsted CEO Mark Ellis. "The vast majority of Canadians live within 200 miles of the American border. Even with this close proximity and clustering of its residence, there are too many markets for us right now. The two markets which we have selected to sharply focus our resources initially will be Montreal on the east and Vancouver on the west."

Ellis further stated, "Montreal is a city with almost 2 million people. The folks here are very friendly and French-English 'bilinguality' is their mother tongue. Old-world ambiance and elegance distinguish the culture and character of the city. Montreal is one of the most vibrant, exciting locations in North America. Situated in Vaudreuil-Soulanges County, Montreal serves as the economic, educational, and entertainment hub of Eastern Canada. Montreal's strong economy draws some of the best and brightest to call the city home, resulting in one of the most diverse and well-educated populations on the face of the Earth. With so much to offer, newcomers have been beating a path to live in Montreal. Once they arrive, they discover hundreds of miles of shoreline, parklands and green spaces, along with one of the safest and most affordable communities anywhere in the world. It will be our pleasure to serve them with Nu Image medspas."

"The City of Vancouver is a beautiful and vibrant city known for its world-renowned attractions including Granville Island, Robson Street and Stanley Park. The city is located on the west coast of Canada and home to about 2 million people in its greater area. Surrounded by water from three sides, Vancouver's climate is one of the mildest in Canada. Not only is it a physically beautiful place to live, but the city also provides a wide range of services and opportunities. Many of the day-to-day services are provided by the city of Vancouver, while others are the jurisdiction of senior levels of government or other organizations. All of them add to the reasons why Vancouver is one of the best places in the world to live. We're hopeful that this will translate into one of the best places for many Nu Image medspas," 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. At Nu Image MedSpa, we also carry skincare product lines such SkinMedica, Obagi, and IS Clinical, just to name a few. 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

About Winsted Holdings, Inc.

Winsted Holdings, Inc. (OTC BB: WNSH) is a Business Development Company (BDC) located in Dallas, Texas. 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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