SOURCE: Winsted Holdings

June 29, 2005 07:58 ET

Winsted Holdings Receives $20,000 Installment From Skin Glow MedSpa

IRVINE, CA -- (MARKET WIRE) -- June 29, 2005 -- MedSpa Solutions Inc., a wholly owned subsidiary of Winsted Holdings Inc. (OTC BB: WHLI), today announced that it has received a $20,000 installment payment from Skin Glow MedSpa in Bakersfield, California. Construction Phase will now commence.

Construction advisory was part of the service included in the Consultancy Agreement awarded on March 28, 2005, by Dr. Rakesh Shishodia. As previously announced on April 28, 2005, the Company received an initial payment of $30,000 towards the comprehensive Consultancy Agreement awarded. This Agreement covers Business Development, Site Design & Build out, Staffing & Training, Vendor Relationships, Licensing & Compliance Assistance and Custom Marketing Development.

Skin Glow MedSpa will be located within the Riverlakes Professional Plaza at 3400 Calloway Drive, Bakersfield, California. The Plaza is a new construction of 8 office buildings in a campus setting. This is a premier address for professional offices in Northwest Bakersfield. For detail information about the Plaza, please visit http://index.loopnet.com/xNet/MainSite/Listing/Profile/13804061.

"Skin Glow will be about 1,800 square feet with space for 5 treatment rooms," stated Winsted CEO Mark Ellis. "We work alongside our clients through every phase. During the Construction Phase, we work with the landlords and general contractors. It's fairly comprehensive and ranges from complex architectural design advisory to simple paint selection. Yes, Doric Cream will be used in the reception area and the hallways. And Desert Gray will be used as accent paint on the trims and doors.

"Most of the clients that come to us are folks that want to make money in the explosive medspa industry. Our job as medspa consultants is to help them with the overall strategy based on our team's vast medspa experience. Additionally, we take care of all the little details, which in turn allow the entrepreneur to concentrate on the big picture. In terms of our own revenue picture, we will book this $20,000 into this quarter," concluded Ellis.

About MedSpa Solutions Inc.

MedSpa Solutions Inc. of Irvine, California, is a wholly owned subsidiary of Winsted Holdings Inc. (OTC BB: WHLI). Medical Spas are fast becoming the facility of choice among women and men seeking rejuvenating skin care procedures. At MedSpa Solutions Inc., 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, 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 spa 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!

MedSpa Solutions is committed to continually setting the highest levels of excellence and innovation for our clients. We are pioneers in the MedSpa industry and strive to bring the most advanced treatments and standards to each one of our spas and clients. For more information on the Consulting Services from MedSpa Solutions, please contact us at 1-888-968-4624 or email at info@medspasolutions.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. 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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