March 07, 2006 08:45 ET

Nu Image MedSpa's Charlotte Laser and MedSpa Turns Cash Flow Positive

DALLAS, TX -- (MARKET WIRE) -- March 7, 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's Charlotte Laser and MedSpa in Charlotte, North Carolina (previously known as Charlotte Laser Center), has turned cash flow positive.

Charlotte, North Carolina, one of the fastest-growing cities in the United States, was founded sometime during the 1750s and was named after King George III's wife. Primarily, Charlotte is proud of its banking industry, which includes Bank of America and Wachovia. It's the nation's second biggest banking center. Other major corporations located here are Duke Energy, Sonic Automotive and Goodrich. The revenue profile for Charlotte Laser Center in the "Queen City" has been mostly women. However, men have been gaining ground in the customer population. For more detail on services and price list, please visit http://www.charlottelasercenter.com/prices.htm. General information on the Center can be viewed at http://www.charlottelasercenter.com/index.htm.

"Charlotte has turned cash flow positive ever since we instituted the Nu Image model there 6 months ago," stated Winsted CEO Mark Ellis. "Revenue and net cash flow are both on the rise. Even with extraordinary items like paying off the previous owner, Charlotte still managed to bring in a healthy 10% net profit. Given the fact that we have only been there for about 6 months, our staff has done a remarkable job. It took a concerted effort by all concern to achieve this enviable success. Going forward, our goal is to reach 30% net without the extraordinary items in the calendar year 2006. For the first two months of this year, it appears that this goal is attainable."

Ellis further stated, "At Charlotte Laser and MedSpa, we are not only bringing you the latest technology, we are also concerned about the safety of our treatment. All of our procedures are performed by highly trained licensed professionals and are medically supervised. Please meet our medical board by visiting http://www.charlottelasercenter.com/mm_medboard.asp. While you are at it, please either come in or take an online tour via http://www.charlottelasercenter.com/mm_tour.asp. And if you like to review some of our before-and-after pictures, please come on in or via http://www.charlottelasercenter.com/hr_photos.asp."

"We have stated all along that Charlotte was going to be a success with our guidance. It feels good to be able to look at the profit and loss (P&L) statement and balance sheet to confirm that the Nu Image MedSpa model works. By dissecting the operations and the changes made, a potential franchisee can see what our model may mean to their future success. Congratulations to the Charlotte staff and home office teams for a job well done. Also a special 'Thank You' to all the customers. For if not for your patronage, we would not have done so well," 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. 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: WNSH) 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.