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WCHG .003 news looks like the shell is gonna do somethin...finally (COMTEX) B: Watercolor Holdings, Inc. f/k/a United Specialties, Inc. Annou
ces New Agreements ( Market Wire )
B: Watercolor Holdings, Inc. f/k/a United Specialties, Inc. Announces New Agreem
nts ( Market Wire )

NEW YORK, NY, Dec 19, 2006 (MARKET WIRE via COMTEX) --
Watercolor Holdings, Inc., a publicly held Colorado corporation
f/k/a United Specialties, Inc. (PINKSHEETS: WCHG), announced today
that it has entered into two agreements to aid in its development of
operating businesses at multiple locations for renewable energy
sources.

Watercolor has entered into an Agreement with Plasma Arc Consultants,
Inc., led by Dr. Louis Circeo, to help in its plasma gasification
project. Plasma systems and its off gases are utilized in the
production of BioFuels. Dr. Circeo is the Principal Research
Scientist in Safety, Health and Environmental Technology Division at
the Georgia Tech Research Institute and he established the Plasma
Application Research Facility at Georgia Tech in 1990.

Watercolor has also entered into an Agreement with Aristos Partners,
LLC for the preparation of a business plan and financial projections
(Pro forma) for the project development and construction of plants for
the conversion of waste materials into energy products for the
commercial market. It is expected that Aristos will complete their
work in the next sixty (60) days.

Watercolor expects to be making future announcements about additional
alliances along with corporate and management structure.

Forward-Looking Statements:

The Private Securities Litigation Reform Act of 1995 provides a safe
harbor for forward-looking statements made on behalf of Watercolor.
All such forward-looking statements are, by necessity, only estimates
of future results and actual results achieved by Watercolor may
differ materially from these statements due to a number of factors.
Any forward-looking statements speak only as of the date made.
Statements made in this document are not purely historical are
forward-looking statements, including any statements as to beliefs,
plans, expectations, or intentions regarding the future. Risk
factors that may cause results to differ from projections include
without limitation, loss of suppliers, loss of customers, inadequate
capital, competition, loss of key executives, declining prices and
other economic actors. Watercolor assumes no obligations to update
these forward-looking statements to reflect actual results, changes
in assumptions or changes in other factors affecting such statements.
You should independently investigate and fully understand all risks
before making investment decisions.
Contact:
Michael J. Porter
President - Investor Relations
212-564-4700

SOURCE: Watercolor Holdings, Inc.
Copyright 2006 Market Wire, All rights reserved.
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