SOURCE: Winsted Holdings

May 31, 2005 06:30 ET

Winsted Holdings Receives $20,000 Consultancy Equity From Nu Image MedSpa

NEWPORT BEACH, CA -- (MARKET WIRE) -- May 31, 2005 -- Winsted Holdings, Inc. (OTC BB: WNHL), a Business Development Company (BDC), is pleased to announce that it has received $20,000 in equity from Nu Image MedSpa Inc. of Las Vegas, Nevada. As previously announced on April 18, 2005, Winsted accepted Nu Image's invitation to participate in all upcoming buyout discussions as it readies offers for seasoned medspas located in 5 separate states and one in Canada.

"Nu Image MedSpa recognizes the association value and our participation," stated Winsted CEO Mark Ellis. "The merger is taking longer than anticipated due to their fast pace success and we have expended manpower resources assisting them. Although we will be one big happy family post merger, Nu Image has offered and we have accepted $10,000 in monthly equity for our participation. At our current stock price, this equity in the bank will save our Company enormous amount of shares."

"This is sort of like outsourcing part of our management team for cash or equity. Earning equity of companies that we wish to buy will conserve our liquid capital and unnecessary dilution. Aside from which, this type of outsourcing allows our Company to increase the flow of our revenue stream. Since we are already paying salaries to our employees, this also increases the benefits we extract from them. In other words, get to work and make some money for the Company," 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: WNHL) 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.

For additional information call Investor Relations 949-476-3711 or visit company website http://www.winstedholdings.com/.

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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