Nexia Signs Agreement to Acquire Triplex for $500,000 Under Its New Real Estate Acquisition Strategy

SALT LAKE CITY, UT--(Marketwire - October 15, 2008) - Nexia Holdings, Inc. (OTCBB: NXHD) reported that on Monday, October 13, 2008 it entered into a Real Estate Purchase Agreement to acquire a residential triplex, located in Bountiful, Utah. The agreement provides for Nexia to acquire title to the property in exchange for $500,000 in Class C Preferred Stock to be issued by Nexia. The property is currently 100% occupied. Closing is expected to take place prior to October 31, 2008, subject to completing inspection and review of the property.

Nexia has previously reported that its CEO, Richard Surber, developed a new strategy for the acquisition of real estate. During the current downturn in the real estate markets, many opportunities are emerging for creative companies like Nexia to acquire potentially vast portfolios of real estate at significant discounts to prior market prices, without seeking additional debt financing.

Many real estate investors we have encountered have no equity in their properties, no longer wish to manage the properties, and are looking for ways to relive themselves of the debt and long term commitment it will take to realize the gains they initially sought.

Nexia's strategy involves issuing preferred shares to acquire title to real estate that may have little or no equity for the seller based upon current market conditions. Nexia's equity position in each property improves as the sellers of the properties begin to liquidate their securities in a controlled fashion and use the initial funds to pay down debt on the properties. Any remaining funds or securities will be the sellers upside in the transaction. Over the long term, Nexia may be left with debt free, cash producing properties. The seller of the properties makes good on their obligations, maintains their good credit, and no longer has the burden of managing the properties. Mr. Surber noted that "this strategy is a long term strategy for Nexia that provides short term solutions for struggling sellers of real estate."

The complete strategy is outlined in a Form 8K filed with the SEC on October 8th, 2008. The strategy helps people out of a potentially bad situation, while allowing Nexia to acquire potentially millions of dollars worth of real estate using restricted shares, existing financing, and no upfront cash.

Richard Surber observed, "I am optimistic that this acquisition will be the first of many that can be acquired using this method. Nexia can buy highly leveraged properties at great prices in anticipation of the inevitable turn around in the real estate markets in the coming years. I believe it is possible to build a $100M plus portfolio of properties given the current market conditions with very little or no upfront cash outlay."

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. The success of the above strategy is conditioned upon a substantial increase in liquidity of Nexia's common stock, an eventual recovery in the real estate markets that Nexia invests in and many other factors which will emerge as Nexia executes upon its acquisition strategy.