Celsius Holdings Reports Increased 4th Quarter Revenue

DELRAY BEACH, FL -- (MARKET WIRE) -- 02/28/08 -- Celsius Holdings, Inc. (the "Company") (OTCBB: CSUH) today reported revenue for the calendar year 2007 was $1.6 million as compared to $1.3 million for 2006, an increase of 26.8%. The revenue for the three month period ended December 31, 2007 was $519,000, as compared to $267,000 for the three month period ended December 31, 2006, or an increase of 94.8%. The Company also reported a net loss of $3.7 million or $0.04 per basic and diluted share for the calendar year 2007. This compares with net loss of $1.5 million or $0.02 per basic and diluted share for the calendar year 2006.

Mr. Stephen C. Haley, chairman and CEO, said: "We almost doubled 4th quarter revenue from a year ago. Historically, we have had low Q4 sales because we were so dependent on signing up new distributors. In 2007, over 70% of our Q4 revenue was from reorders. We did ship to five new distributors during the quarter and received commitments from others who wanted to get started with Celsius after the first of the year."

"Operationally," Mr. Haley said, "we will continue to grow our geographic distribution strategically over the next couple of quarters but most of our focus will be to deepen our coverage in areas that we are already in. In the past, we have been more opportunistic and signed up distributors based on interest and availability instead of strategic importance or capability. We are able to sign up higher quality distributors now and with more retail chains interested, we can turn on more productive marketing efforts."

Mr. Haley continued by stating, "We are conservatively managing our growth while we are pursuing strategic financing. The calorie burning or 'net-negative' category is growing and the Celsius brand is gaining traction and looks like we can grow the brand at a rate directly correlated to the marketing funds available. Our current cash position requires us to take a disciplined approach to manage our business."

The company's quarterly conference call is scheduled for 4:30 p.m. ET, Thursday, February 28, 2008. The call may be accessed through live webcast links on the company's Internet home page, www.celsius.com. The webcast will be archived and available on the company's website for one month following the call.

About Celsius Holdings, Inc.

Celsius Holdings, Inc. (OTCBB: CSUH) manufactures Celsius through its wholly owned operating subsidiary, Celsius, Inc. Celsius Inc. is quickly gaining attention in the emerging $36 billion functional food and beverage industry, as the creator of the negative calorie beverage category and as a pioneer and leader in developing healthier beverage choices. Celsius, Inc. is building unique distribution strategies to gain broad penetration in all channels serving its consumer targets in all geographies. The continued mission of Celsius, Inc. is to create healthy refreshment through science and innovation and growth through passion and integrity. Celsius is available through multiple channels including grocery, drug, convenience stores, gyms and nutrition stores. Celsius is proudly carried by fine establishments such as Walgreens, Krogers, Vitamin Shoppe, Raleys, QFC, Hi-Health, Valero Corner Stores, Life Time Fitness, Diamond Shamrock, Hannaford Supermarkets, Heinens, Sweetbay Supermarkets, Meijer, Discount Drug Mart, King Soopers, Dillions, Fry's, Smiths, Gelsons, Demoulas Market Baskets, Bristol Farms and Central Markets. For more information about Celsius and Celsius, Inc., please visit http://www.celsius.com. For investor information, please visit http://www.redchip.com.

About Celsius?

Celsius is a dietary supplement that in multiple clinical studies has been shown to burn calories, boost energy and increase metabolism for up to 3 hours. In the most recent study conducted at the University of Oklahoma and released at the International Society of Sports Nutrition, Celsius was shown to burn more than 100 calories. Celsius contains a blend of ingredients including Green Tea with EGCG, Ginger, Calcium, Chromium, B Vitamins, and Vitamin C. Celsius contains none of the bad ingredients typically found in many drinks -- no sugar, no carbs, no preservatives, no high fructose corn syrup, no trans fats, and it has very little sodium. Celsius is available in 5 great-tasting flavors including Orange, Cola, Lemon-Lime, Wild Berry and Ginger Ale.

Forward-Looking Statements

This press release may contain statements, which are not historical facts and are considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements contain projections of Celsius Holdings' future results of operations, financial position or state other forward-looking information. In some cases you can identify these statements by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will," and "would" or similar words. You should not rely on forward-looking statements because Celsius Holdings' actual results may differ materially from those indicated by these forward-looking statements as a result of a number of important factors. These factors include, but are not limited to: general economic and business conditions; our business strategy for expanding our presence in our industry; anticipated trends in our financial condition and results of operation; the impact of competition and technology change; existing and future regulations effecting our business, and other risks and uncertainties discussed in our reports Celsius Holdings files from time to time with the Securities and Exchange Commission. Celsius Holdings does not intend to and undertakes no duty to update the information contained in this press release.

                  Celsius Holdings, Inc. and Subsidiaries
                   Condensed Consolidated Balance Sheet

                                                        December 31,
                                                            2007
                                                        -------------
                                                         (Unaudited)
Current assets:
  Cash and cash equivalents                             $     257,482
  Accounts receivable                                         276,877
  Inventories, net                                            578,774
  Other current assets                                         44,960
                                                        -------------
 Total current assets                                       1,158,093
Property, fixtures and equipment, net                          64,697
Other long-term assets                                      1,310,340
                                                        -------------
Total Assets                                            $   2,533,130
                                                        =============

Current liabilities:
  Accounts payable and accrued expenses                 $     594,828
  Loans payable                                               550,307
  Deposit from customer                                       400,000
  Short-term portion of long-term other liabilities             7,184
  Convertible note                                            199,692
  Due to related parties                                    1,056,721
                                                        -------------
Total current liabilities                                   2,808,732

  Convertible note payable                                  1,314,914
  Other long-term other liabilities                            14,236
                                                        -------------
Total Liabilities                                           4,137,882
                                                        -------------

Stockholders? Deficit                                      (1,604,752)
                                                        -------------
Total Liabilities and Stockholders? Deficit             $   2,533,130
                                                        =============



                  Celsius Holdings, Inc. and Subsidiaries
              Condensed Consolidated Statements of Operations
                               (unaudited)

                       For the Three Months       For the Twelve Months
                        Ended December 31,          Ended December 31,
                        2007          2006          2007          2006
                    ------------  ------------  ------------  ------------
  Net sales         $    519,233  $    266,945  $  1,644,780  $  1,297,086
  Cost of sales          288,803       135,850     1,033,971       850,070
                    ------------  ------------  ------------  ------------

Gross profit             230,430       131,095       610,809       447,016

  Selling and
   marketing
   expenses              749,228       372,154     1,545,323       998,510
  General &
   administrative
   expense               518,650       286,572     2,109,874       791,290
  Contract
   termination
   expense                     -             -       500,000             -
                    ------------  ------------  ------------  ------------

Loss from
 operations           (1,037,448)     (527,631)   (3,544,388)   (1,342,784)

Other expense:
  Interest expense,
   related party          22,449        23,157        75,647        72,468
  Interest expense,
   net                    37,130        18,198       105,806        39,101
                    ------------  ------------  ------------  ------------

Total other expense       59,579        41,355       181,453       111,569
                    ------------  ------------  ------------  ------------

Net loss            $ (1,097,027) $   (568,986) $ (3,725,841) $ (1,454,353)
                    ============  ============  ============  ============

Basic and diluted:
Weighted average
 shares outstanding  105,386,938    70,912,246   100,688,634    70,912,246
                    ============  ============  ============  ============
Loss per share      $      (0.01) $      (0.01) $      (0.04) $      (0.02)
                    ============  ============  ============  ============

  

CONTACT:
Media
Erin Heit of Celsius Holdings, Inc.
(561) 276-2239
eheit@celsius.com

Jan Norelid
Celsius Holdings, Inc.
(561) 276- 2239
jnorelid@celsius.com

Investors
Jon Cunningham
RedChip Companies, Inc.
800-733-2447 ext. 107
investor@celsius.com