SOURCE: Winsted Holdings

August 08, 2005 07:00 ET

Unaudited Q2 Revenue Jumps While Expenses Tumble

NEWPORT BEACH, CA -- (MARKET WIRE) -- August 8, 2005 -- Winsted Holdings, Inc. (OTC BB: WHLI), a Business Development Company (BDC), is pleased to announce that it has received the second quarter financial results ending June 30, 2005, from the Company's CPA. These unaudited results will be forwarded to the Company's outside auditor for approval.

"The unaudited 2005 Q2 revenue was $150,000 compared to 2004 Q2 of $9,485. Unaudited 2005 Q2 cost and expenses were $670,366 compared to 2004 Q2 of $1,011,138," stated Winsted CEO Mark Ellis. "Selected raw numbers can be both misleading and inadequate should there be last minute changes. However, with so many requests of 'How are we doing?', we felt it was appropriate to discuss of the preliminary results with the aforementioned disclaimers. One should not base the merits of investing on incomplete and selected raw numbers. For a more complete picture, please see the Company's audited filings with the SEC."

"Revenue exploding upward while cost and expenses going down is the result of hard-working employees. The bottom line on how we became so successful in what we do can be traced back to the purchase of MedSpa Solution Inc. on December 6, 2004. With the employees' concentrated effort, we logged in 613 sales leads from January through June. This means our prospect pipeline is filling up and releasing successes into our sales dam. With each passing quarter, we'll continue to open up the floodgates to release our quarterly results. I want to give thanks to the support of our shareholders, the employees for their hard work and our clients for choosing our professional team," concluded Ellis.

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. 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.

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