WATERCOLOR HOLDINGS (fka WCHG)

[wildbill]

(COMTEX) B: WaterColor Holdings, Inc. f/k/a United Specialties, Inc. Annou
ces Restructuring Plan ( Market Wire )
B: WaterColor Holdings, Inc. f/k/a United Specialties, Inc. Announces Restructur
ng Plan ( Market Wire )

WESTPORT, CT, Jul 16, 2007 (MARKET WIRE via COMTEX) --
WaterColor Holdings, Inc., a publicly held Colorado corporation
(PINKSHEETS: WCHG), President stated that the Company is firmly
committed to developing and considering developing one or more
renewable energy facilities which will be located on the Company's
properties located in Connecticut and Colorado. The production of
the renewable energy will be achieved by utilizing one or more of the
following modalities: plasmafication, distillation, and fermentation
and other chemical applications as required.

In keeping with the Company's plans, it shall propose to the
Company's shareholders to reincorporate in Delaware and approve a 30
to 1 reverse split of its shares.

It is believed that by doing both the Company will maximize
shareholder value, create meaningful liquidity and be in a position to
attract institutional and other significant investors.

WaterColor expects to be making future announcements about additional
alliances along with corporate and management restructure.

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 that 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:
Garry Stein
203-226-4324

SOURCE: WaterColor Holdings, Inc.
Copyright 2007 Market Wire, All rights reserved.
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