SALT LAKE CITY, UT--(MARKET WIRE)--Nov 5, 2008 -- Nexia Holdings, Inc. (OTC BB:NXHD.OB - News) reported that on Tuesday, October 28, 2008 it signed a Letter of Intent with Alexander Lindale, LLC to acquire three lots of beachfront property in the Playa Palmeras tourist community. The purchase price of $310,000 will be paid with the issuance of 62,000 restricted shares of Series C Preferred Stock of Nexia. This development is the first on the Campeche Gulf Coast, located approximately 40 kilometers/24.8 miles from Campeche, the capital of the State of Campeche in the southwest of Mexico's Yucatan Peninsula, 494 kilometers/307 miles from Cancun.

This development focuses on selling first-line, beachfront lots for single family homes. The potential for renting the properties after completing the homes is facilitated by the management services available from the development. These services include regular maid service, grounds maintenance, pool service (if needed), security and emergency maintenance. There is a full service restaurant in the development, Bahia de Tortugas that promotes a casual, welcoming atmosphere. The restaurant serves breakfast, lunch and dinner seven days a week, with snacks and drinks available. The pool maintained by the development is located next to the restaurant for the use of owners and their guests.

About Nexia Holdings, Inc.

Nexia Holdings, Inc. (OTC BB:NXHD.OB - News), 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(TM) 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.