Nexia Announces Financial Results for June 30, 2008

SALT LAKE CITY, UT--(Marketwire - August 20, 2008) - Nexia Holdings, Inc. (OTCBB: NXHD) announced today its sales results (unaudited) for its Black Chandelier retail clothing division, Landis Lifestyle Salons ("Landis") operations, and income from Nexia's real estate holdings, for the second quarter of 2008, ending June 30, 2008 through the filing of a 10-Q report with the SEC.

Richard Surber, Nexia's CEO and president, commented on the 2nd quarter results, "The silver lining in the numbers below is that our retail salon business posted a profit of $86,770 for the first six months in 2008. I intend to focus heavily on this segment of Nexia's business. Nexia has taken all anticipated heavy hits to its financials in 2008 by writing down many assets. For instance, Nexia wrote down over $785,285 in marketable securities. There is a chance that these assets could recover."

Nexia reported gross revenues for the three and six month periods ended June 30, 2008, of $680,439 and $1,495,787 as compared to $739,610 and $1,478,384 for the same periods in 2007. Revenues for the three months were down $59,171 or 8% while revenues for the six months were up $17,403 or 1.2%, respectively for the comparable periods in 2007.

Nexia recorded operating losses of $681,371 and $1,670,116 for the three and six month periods ended June 30, 2008, compared to losses of $742,276 and $2,174,072 for the comparable periods in the year 2007. The decreases in three and six month operating losses of $60,905 and $503,956, or 8% and 23%, respectively were the result of several factors including the closing of three underperforming Black Chandelier retail outlets.

Nexia reported net losses of $768,333 and $2,838,341 for the three and six month periods ended June 30, 2008, as compared to net losses of $868,384 and $2,068,832 for the comparable periods in 2007. The decrease in the three month net losses of $100,051, or 5%, compared to the same period in 2007 were the result of reduced expenses in payroll, reduction in expenses from closing three Black Chandelier stores and a decrease in promotional service expenses. The increase in losses for the six months ended June 30, 2008 was $769,509, or 37% and was created by realizing a nonrecurring loss in marketable equity securities recorded during the first quarter of 2008.

Mr. Surber, commented further, "Nexia has a talented staff of about 70 employees that are committed to the success of Nexia. I look forward to improving Nexia during the last half of 2008. I am aggressively seeking acquisitions of additional salon locations that can carry Aveda™ products and ramping up online sales of our Black Chandelier brand. In addition, Nexia is always looking for additional businesses to acquire that could add value for its shareholders. This is the time for Warren Buffet style 'value investing.' While many others are running for cover, I am keen on seeking out additional companies to add to Nexia's portfolio of companies that can be bought for a good price."

About Nexia Holdings Inc.

Nexia Holdings Inc. (OTCBB: NXHD), headquartered in Salt Lake City, Utah, is a diversified holdings company with operations in real estate, health & beauty, and fashion retail. Nexia owns a majority interest in Landis Lifestyle Salon, www.landissalons.net, a hair salon built around the world-class AVEDA™ product line. Through its Style Perfect, Inc. subsidiary, Nexia owns the innovative retail and design firm Black Chandelier and its related brands. Black Chandelier currently operates one retail location and online store at www.blackchandelier.com. For more information, visit http://www.nexiaholdings.com.

Nexia strongly encourages the public to read the above information in conjunction with its Form 10-K for December 31, 2007 and the subsequent quarters of 2008. Nexia's disclosures can be viewed at www.nexiaholdings.com and www.sec.gov.

This press release contains forward-looking statements. There are no assurances that such assumptions will prove correct. These forward-looking statements involve a number of risks and uncertainties, including an expectation of substantial increase in sales. The actual results that Nexia Holdings may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.