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[QUOTE]Originally posted by Batman: [QB] Wednesday, July 12 2006 8:18 PM, EST -------------------------------------------------------------------------------- Nexia Reports on Acquisition of Retail Operation Business Editors / Real Estate Writers / Retail Writers SALT LAKE CITY--(BUSINESS WIRE)--July 12, 2006-- Nexia Holdings Inc. (OTCBB: NEXH) announced today that Nexia's wholly owned subsidiary, Diversified Holdings I Inc. ("DHI"), that previously owned a 20% interest in Landis LLC, has signed an agreement to acquire an additional 60% interest from Richard Surber, Nexia's CEO and the sole managing member of Landis LLC. Surber commented, "I believe that there is great potential for future revenue growth for the Landis Lifestyle Salon venture. Landis currently employs 32 individuals. It has generated $582,331 in total revenues for the six months ended June 30, 2006, and total revenues since inception in November of 2005 of $715,000." Surber reiterated, "Landis is on track to exceed $1.2 million in gross revenue for 2006 and is expected to operate at a profit for the fiscal year ending Dec. 31, 2006." Landis is also announcing its plans to open two to three additional locations in Utah over the next 12 to 24 months. Each salon will carry Aveda(TM) products exclusively and will together employ approximately 100 people. In exchange for the interests in Landis acquired from Surber DHI and Nexia has agreed to deliver to Surber a promissory note in the amount of $250,000, issue 75,000 shares of Class A Preferred stock of Nexia, and 2 million shares of Class B Preferred Stock of Nexia. Nexia Holdings Inc. is a real estate holding company that is looking to diversify its operations in 2006 to include retail operations in the multibillion-dollar beauty and fashion industries. For more information on Nexia, visit our Web sites at http://www.nexiaholdings.com, http://www.landissalon.com and http://www.blackchandelier.com. This press release may contain forward-looking statements that are based on a number of assumptions, including the future operations of Landis LLC. Although Nexia Holdings believes these assumptions are reasonable, no assurance can be given that they will prove correct. These forward-looking statements involve a number of risks and uncertainties. The actual results that Nexia Holdings may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. KEYWORD: NORTH AMERICA UTAH UNITED STATES INDUSTRY KEYWORD: RETAIL COSMETICS FASHION CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE MERGER/ACQUISITION PHOTO/MULTIMEDIA SOURCE: Nexia Holdings Inc. CONTACT INFORMATION: Nexia Holdings Inc., Salt Lake City Richard Surber, 801-575-8073, ext. 106 Fax: 801-575-8092 hudconsult*aol.com [/QB][/QUOTE]
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