SOURCE: Winsted Holdings, Inc.

May 02, 2005 07:00 ET

Winsted Receives Indication Of Interest for Select UBC Assets

NEWPORT BEACH, CA -- (MARKET WIRE) -- May 2, 2005 -- Winsted Holdings, Inc. (OTC BB: WNHL), a Business Development Company (BDC), is pleased to announce that it has received an Indication Of Interest for some of the assets that it purchased from Universal Broadband Communications, Inc. (UBC).

On December 30, 2003, the Company entered into an Asset Purchase Agreement with Universal Broadband Communications, Inc. ("UBC" or "UBC Asset Acquisition"), whereby the Company purchased the assets of UBC in exchange for 6,000,000 shares of Series A Preferred Stock with a fair market value of $480,000.

"We have been approached by a serious buyer for some of the assets which we purchased from UBC," stated Winsted CEO Mark Ellis. "Unlike our all-stock deal, this would be a cash transaction. The best utilization for some of the underutilized UBC purchased assets is to turn them into cash. Our anticipation is to deploy this new money into MedSpa Solutions for further market penetration, into Qbe Technology for further PC Tablet improvements and market deployment for Spencer Communications.

"Winsted is rapidly becoming a major force within the medspa industry with our ownership of MedSpa Solutions and association with Nu Image MedSpa. It is interesting to us that the more medspa focus we are, the more other folks are looking to buy our non-medspa related assets. To us, we would consider any offer that may bring greater capital flexibility," concluded Ellis.

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. 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.

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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